§ 1704. Exemption from examination by Commissioner.
75 words·~1 min read·
/de/title-5/chapter-17-regulation/subchapter-i-general-provisions/1704·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A building and loan association which shall be examined by a certified public accountant may be exempted from examination by the Commissioner, and an examination by a certified public accountant may be accepted by the Commissioner as a sufficient compliance with the requirements of this chapter with respect to examinations. In any such case, a certified report of the examination made by the certified public accountant, shall be filed in the office of the Commissioner.