Section 12-404 - Obligations of authority to political subdivision. - Maryland Statutes

§ 12-404. Obligations of authority to political subdivision.
 

(a)  Financial report.- At least annually, an authority shall file with the custodian of records a financial report of its activities for the preceding year and recommend any further action by the political subdivision that it considers necessary or useful to carry out the purpose of this Division II. 

(b)  Operating budget.- The political subdivision may require an authority to provide it with an annual operating budget and program reports that the political subdivision designates. 

(c)  Examination of books and records; audit.- The political subdivision or its designee may at any time: 

(1) examine the books and records of the authority; or 

(2) conduct an audit of the authority. 
 

[An. Code 1957, art. 44A, § 1-405; 2006, ch. 63, § 2.]