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Section 727

Started by hofo
over 7 years ago
Posts: 453
Member since: Sep 2008
Discussion about
Just rec'd 2017 financials from our co-op and they included a memo regarding the new amendment of NY Business Corporation Law section 727 effective Jan 1 2018. Our co-op took no action from Jan - May of this year regarding this change. Is this unusual since if there are no conflicts then they would simply sign off? Have you rec'd the same from your co-op? Thanks
Response by Aaron2
over 7 years ago
Posts: 1698
Member since: Mar 2012

Since the requirement to review/attest is only annual, its possible that they wouldn't make the disclosure until the end of this calendar year.

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Response by ximon
over 7 years ago
Posts: 1196
Member since: Aug 2012

Does anyone have more information on this new disclosure requirement? If the disclosure is required effective 1/1/18, would it need to be included in the financials whenever they are issued?

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