88R7425 JES-F     By: King S.B. No. 835       A BILL TO BE ENTITLED   AN ACT   relating to the availability of financial information of nonprofit   corporations for public inspection.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 22.353, Business Organizations Code, is   amended to read as follows:          Sec. 22.353.  AVAILABILITY OF FINANCIAL INFORMATION FOR   PUBLIC INSPECTION. (a) A corporation shall keep records, books,   and annual reports of the corporation's financial activity and   audited financial statements described by Subsection (c) at the   corporation's registered or principal office in this state for at   least three years after the close of the fiscal year.          (b)  Except as provided by Subsection (c), the [The]   corporation shall make the records, books, and reports available to   the public for inspection and copying at the corporation's   registered or principal office during regular business hours. The   corporation may charge a reasonable fee for preparing a copy of a   record or report.          (c)  A corporation is exempt from Subsection (b) if:                (1)  an independent certified public accountant has   conducted an audit of the corporation's financial statements for   the preceding fiscal year in accordance with generally accepted   auditing standards; and                (2)  subject to Subsection (d), the corporation makes   its audited financial statements and the annual reports of the   corporation's financial activity kept under Subsection (a)   available to the public for inspection and copying at the   corporation's registered or principal office during regular   business hours. The corporation may charge a reasonable fee for   preparing a copy of a statement or report.          (d)  A corporation shall make an audited financial statement   described by Subsection (c)(1) available to the public for   inspection and copying not later than the 180th day after the close   of the fiscal year to which the audit relates.          SECTION 2.  This Act takes effect September 1, 2023.