§ 35-12-16 - Annual report and audit.
SECTION 35-12-16
§ 35-12-16 Annual report and audit. –The corporation shall submit to the board of governors for higher education,within four (4) months after the close of its fiscal year, a report of itsactivities for the preceding fiscal year. The report shall set forth a completeoperating and financial statement covering the corporation's operations duringthe preceding fiscal year. The corporation shall cause an independent audit ofits books and accounts to be made at least once each fiscal year.