HAR §16-131-44. §16-131-44 Report on financial condition

Each cable operator, within one hundred twenty days after the close of its fiscal year, shall submit to the director financial review or audited financial statements for the preceding fiscal year. Financial statements, whether audited or in the form of financial review, shall include at minimum a balance sheet, a statement of income and equity, and a statement of changes in financial position and further, each such statement shall contain appropriate notes. Audited statements shall be required: (1) During the first three years of operation following the initial issuance or transfer of a cable franchise; (2) If there have been any material changes in the financial condition, operations, or control and management of the operator; (3) If the director determines that continued quality cable operations may be in jeopardy; or (4) In connection with an application for transfer, renewal, or modification of a cable franchise. [Eff 6/22/81; am 12/7/87; am and comp 7/28/88; comp 12/23/91; comp 12/3/08] (Auth: HRS §440G-12) (Imp: HRS §440G-12)