§ 24-213. Annual audits.

Latest version.

(a) In general. -- The Legislative Auditor shall conduct a fiscal and compliance audit of the accounts and transactions of the Society for each year in which the Society receives a disbursement from the Rate Stabilization Account under § 19-805 of this article other than a disbursement made under § 19-805(b)(3) of this article.

(b) Follow-up audit. -- Within one year of the date of an audit report required under subsection (a) of this section, the Legislative Auditor shall conduct a follow-up audit to determine the status of any audit recommendations.

(c) Costs. -- The Society shall pay the cost of each audit.

HISTORY: 2004 Sp. Sess., ch. 5, § 1; 2005, ch. 24, § 1; 2008, ch. 589.

                    
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