2311 - Reporting and inspection. - Pennsylvania Statutes

§ 2311. Reporting and inspection. (a) Inspection.--An applicant or a recipient shall, upon request, permit authorized employees of the department or its agent to inspect the plant, books and records of the applicant or recipient. (b) Updating.--An applicant or a recipient shall provide updated information to the department and its agents if conditions change or to the extent that the information originally given becomes inaccurate or misleading. (c) Periodic reports.--A recipient shall provide the department and its agents with such periodic financial reports as the department may require until the loan is repaid in full. (d) Financial and performance audits.--An agent of the department shall annually submit to the department, at the agent's expense, an independent financial audit. If the audit reveals misconduct of a material nature on the part of the agent, the department shall take appropriate action.