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Current as of December 31, 2021 | Updated by FindLaw Staff
(a) Each year, the Corporation shall require:
(1) a financial audit by an independent certified public accountant of each grantee whose grant income from the Corporation in the most recently completed fiscal year was $50,000 or more; or
(2) a financial review by an independent certified public accountant of each grantee whose grant income from the Corporation in the most recently completed fiscal year was less than $50,000.
(b) The report of each audit or review shall be:
(1) submitted to the Governor;
(2) made available to the Legislative Auditor; and
(3) kept for at least 5 years at the principal office of the Corporation.
Cite this article: FindLaw.com - Maryland Code, Human Services § 11-505 - last updated December 31, 2021 | https://codes.findlaw.com/md/human-services/md-code-human-serv-sect-11-505.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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