Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Paragraph (a) of subdivision (1) of section 21 of chapter 32 of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by adding the following four sentences:- Whenever the board of any system causes an examination of its financial condition to be made by a certified public accountant or a public accountant selected by said board, the board shall immediately, upon the employment of such person, file his name and address with the commissioner, and such person shall, within ten days after making the report of such examination to the board of such system, file a certified copy thereof with the commissioner. Any certified public accountant selected by said board shall conduct such examination in accordance with such procedures as the commissioner shall establish. The commissioner may, in his discretion, accept the examination so made, or cause an examination to be made pursuant to this paragraph. An examination conducted by a certified public accountant or a public accountant selected by said board, which is accepted by the commissioner, shall be deemed to be the examination required by this paragraph.

SECTION 2. Subdivision (2) of said section 21 of said chapter 32, as so appearing, is hereby amended by inserting after the word "commonwealth", in line 64, the words:- except for any expenses incurred in connection with a certified public accountant or a public accountant selected by the board of any system pursuant to the provisions of paragraph (a) of subdivision (1), which expenses shall be paid primarily by the applicable system.