Sec. 275.102. AUDITS AND REPORTS. (a) At least once each year, a mutual trust investment company shall cause an adequate audit to be made of the company by auditors responsible only to the board of directors of the company. (b) A mutual trust investment company shall furnish annually a copy of the company's audited financial statement to each corporate fiduciary owning stock in the company. (c) The mutual trust investment company shall pay the: (1) reasonable expenses of an audit required by this section made by an independent public accountant or certified public accountant; and (2) costs of preparing and distributing a report required by this section.
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