Mich. Admin. Code R. 420.20 - Financial statements
Rule 20.
(1) Each
licensee under the MRTMA shall transmit to the agency financial statements of
the licensee's total operations. The financial statements shall be reviewed by
a certified public accountant in a manner and form prescribed by the agency.
The certified public accountant must be licensed in this state under article 7
of the occupational code, 1980 PA 299, MCL 339.720 to 339.736. The compensation
for the certified public accountant must be paid directly by the licensee to
the certified public accountant. The agency shall issue an advisory bulletin to
instruct licensees on the time and manner in which to submit the financial
statements. Financial statements must be prepared so they include all required
information for each license held by the licensee.
(2) A marihuana educational research licensee
is not required to file an annual financial statement.
Notes
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