Annual filing of financial statement and other information with Commissioner; requirements for financial statement; order to remove qualification in financial statement

1. A licensee shall, within 90 days after the end of each fiscal year or within such extended period as approved by the Commissioner, file with the Commissioner: (a) An audited financial statement of the licensee for the fiscal year prepared in accordance with generally accepted accounting principles in the United States; and (b) Any other information the Commissioner may reasonably require. 2. The audited financial statement filed pursuant to subsection 1 must: (a) Be prepared by an independent certified public accountant or independent public accountant who is satisfactory to the Commissioner. (b) Include or be accompanied by a certificate of opinion of the independent certified public accountant or independent public accountant, as applicable, that is satisfactory in form and content to the Commissioner. If such a certificate or opinion is qualified, the Commissioner may order the licensee to take any action the Commissioner deems necessary to enable the independent certified public accountant or independent public accountant to remove the qualification.