490.382 Fiscal year; accounting principles.
Sec. 382.
(1) A domestic credit union shall use the calendar year as its fiscal year.
(2) A domestic credit union shall follow generally accepted accounting principles in its accounting, unless a different accounting standard is required by state or federal statute, rule, or regulation.
History: 2003, Act 215, Eff. June 1, 2004 ;– Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004