ICARC Bylaws

ARTICLE XIII - REPORTS

Section 13.1. Financial Statements for Members.

    (a) The Corporation, upon written demand from a member, shall furnish that member the Corporation's latest annual financial statements, which may be consolidated or combined statements of the corporation and one or more of its subsidiaries or affiliates, as appropriate, that include a balance sheet as of the end of the fiscal year and a statement of operations for that year.

    (b) If annual financial statements are reported upon by a public accountant, the accountant's report must accompany them.

Section 13.2. Report of Indemnification to Members.

    If the Corporation indemnifies or advances expenses to a director under Article IX of These Bylaws in connection with a proceeding by or in the right of the Corporation, the Corporation shall report the indemnification or advance in writing to the members with or before the notice of the next meeting of members.

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Last updated June 11, 2004 by KØCF