§ 10-110. Audit; reports

Latest version.

   (a) Audit. -- The books and records of the Trust are subject to audit:

   (1) by the State, at the State's discretion; and

   (2) annually by an independent auditor approved and paid by the Trust.

(b) Reports. --

   (1) Within the first 90 days of each fiscal year, the Board shall report to the Governor and, subject to § 2-1246 of the State Government Article, to the General Assembly.

   (2) The report shall include a complete operating and financial statement of the operations of the Trust and a summary of the activities of the Trust during the preceding fiscal year.

HISTORY: An. Code 1957, art. 83B, § 11-106(c), (d); 2005, ch. 26, § 2.

                    
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