This excerpt taken from the HPT DEF 14A filed Mar 31, 2006.
Reserved.] Not later than ninety (90) days after the
close of each fiscal year of the Trust following the end of fiscal year 1995,
the Trustees shall mail or deliver a report of the business and operations of
the Trust during such fiscal year to the Shareholders, which report shall
constitute the accounting of the Trustees for such fiscal year. Subject to Section 8-401
of the Annotated Code of Maryland, the report (the “Annual Report”) shall be in
such form and have such content as the Trustees deem proper. The Annual Report
shall include a balance sheet, an income statement and a surplus statement,
each prepared in accordance with generally accepted accounting principles. Such
financial statements shall be certified by an independent public accountant
based on a full examination of the books and records of the Trust conducted in
accordance with generally accepted auditing procedure. Manually signed copies
of the Annual Report and of the auditor’s certificate will be filed with the
Maryland Department of Assessments and Taxation. A manually signed copy of the
accountant’s report shall be filed with the Trustees.
