(a) 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) (1) Within the first 90 days of each fiscal year, the Board shall report to the Governor and, subject to § 2–1257 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.
Structure Maryland Statutes
Housing and Community Development
Division I - Housing and Community Programs
Title 10 - Maryland Affordable Housing Trust
Subtitle 1 - General Provisions
Section 10-102 - Trust Established
Section 10-103 - Board Established
Section 10-107 - Debts, Obligations, Liabilities, Corporate Earnings, and Assets