§ 4516. Annual statement; valuation report; power of superintendent.
(a) Every authorized society shall make special reports in compliance
with section three hundred eight of this chapter, shall file its annual
statement in conformity with the requirements of section three hundred
seven of this chapter, and on or before the first day of March of each
year, shall file with the superintendent a valuation report of its
insurance certificates or other insurance obligations in force at last
year-end in form and content prescribed by the superintendent. Every
authorized alien society shall also make and file the trusteed surplus
statement required by section one thousand three hundred twelve of this
chapter.

(b) The superintendent shall annually make or cause to be made
valuations of all outstanding certificates and other insurance
obligations of every domestic society, in accordance with the provisions
of this article. The superintendent may make such valuation, or cause
the same to be made, by groups of certificates using approximate
averages for fractions of a year and otherwise. The superintendent may,
in his discretion, make or cause to be made a similar valuation of the
outstanding certificates and other insurance obligations of any
authorized foreign or alien society, or he may accept in lieu thereof
the valuation made or accepted by the insurance department or insurance
supervisory official of the state, province or country in which such
society is domiciled.

(c) Every domestic society, if it has an official publication or
newspaper, shall publish therein a synopsis of its annual statement and
valuation report within sixty days after the same have been filed with
the superintendent.

(d) Every authorized society shall submit such reports as may be
required by the superintendent to demonstrate the activity of its lodge
system, its expenditures for altruistic, educational, fraternal,
patriotic or recreational purposes and other expenses of maintaining
fraternal character.

(e) The superintendent is authorized to engage outside resources and
take such other actions he or she deems necessary and appropriate to
ensure compliance with the requirements of this article and to provide
assistance to and oversight of authorized societies.