Article X
Annual Report

Section 1. Annual Report – The annual report to members referred to in the California Non-profit Corporation Law is expressly dispensed with, but nothing in these Bylaws shall be interpreted as prohibiting the Board of Directors from issuing annual or other periodic reports to the members as the Board of Directors and to the members, who request it in writing, within one hundred twenty(120) days of the close of its fiscal year, a report containing the following information in reasonable detail:

  1. The assets and liabilities, including the trust funds, of the association as of the end of the fiscal year.
  2. The principal changes in assets and liabilities, including trust funds, during the fiscal year.
  3. The revenue or receipts of the association, both unrestricted and restricted to particular purposes, for the fiscal year.
  4. The expenses or disbursements of the association, or both general and restricted purposes, during the fiscal year.
  5. Any information required by California Corporations Code 8322.