§ 519. Annual report of directors.

(a) The board shall present at the annual meeting of members a report,
verified by the president and treasurer or by a majority of the
directors, or certified by an independent public or certified public
accountant or a firm of such accountants selected by the board, showing
in appropriate detail the following:

(1) The assets and liabilities, including the trust funds, of the
corporation as of the end of a twelve month fiscal period terminating
not more than six months prior to said meeting.

(2) The principal changes in assets and liabilities, including trust
funds, during said fiscal period.

(3) The revenue or receipts of the corporation, both unrestricted and
restricted to particular purposes during said fiscal period.

(4) The expenses or disbursements of the corporation, for both general
and restricted purposes, during said fiscal period.

(5) The number of members of the corporation as of the date of the
report, together with a statement of increase or decrease in such number
during said fiscal period, and a statement of the place where the names
and places of residence of the current members may be found.

(b) The annual report of directors shall be filed with the records of
the corporation and either a copy or an abstract thereof entered in the
minutes of the proceedings of the annual meeting of members.

(c) The board of a corporation having no members shall direct the
president and treasurer to present at the annual meeting of the board a
report in accordance with paragraph (a), but omitting the requirement of
subparagraph (5). This report shall be filed with the minutes of the
annual meeting of the board.