PARRIS N. GLENDENING, Governor

Ch. 737

(D) (1) AS SOON AS PRACTICAL AFTER THE CLOSING OF THE FISCAL YEAR,
AN AUDIT SHALL BE MADE OF THE FINANCIAL BOOKS, RECORDS, AND ACCOUNTS
OF THE CORPORATION.

(2) THE AUDIT SHALL BE MADE BY INDEPENDENT CERTIFIED PUBLIC
ACCOUNTANTS, SELECTED BY THE CORPORATION AND LICENSED TO PRACTICE IN
THE STATE

(3) THE ACCOUNTANTS MAY NOT HAVE A PERSONAL INTEREST EITHER
DIRECTLY OR INDIRECTLY IN THE FISCAL AFFAIRS OF THE CORPORATION.

(4) THE ACCOUNTANTS SHALL BE EXPERIENCED AND QUALIFIED IN
THE ACCOUNTING AND AUDITING OF PUBLIC BODIES.

(5) THE ACCOUNTANTS SHALL REPORT THE RESULTS OF THEIR
EXAMINATION, INCLUDING THEIR UNQUALIFIED OPINION ON THE PRESENTATION
OF THE FINANCIAL POSITION OF THE VARIOUS FUNDS AND THE RESULTS OF THE
CORPORATION'S FINANCIAL OPERATIONS.

(6) IF THE ACCOUNTANTS ARE UNABLE TO EXPRESS AN UNQUALIFIED.
OPINION THEY SHALL STATE AND EXPLAIN IN DETAIL THE REASONS FOR THEIR
QUALIFICATIONS, DISCLAIMER, OR OPINION INCLUDING RECOMMENDATIONS
NECESSARY TO MAKE POSSIBLE FUTURE UNQUALIFIED OPINIONS.

(E) THE BOOKS, RECORDS, AND ACCOUNTS OF THE CORPORATION ARE
SUBJECT TO AUDIT BY THE STATE

(F) (1) WITHIN THE FIRST 90 DAYS OF EACH FISCAL YEAR, THE
CORPORATION SHALL MAKE A REPORT TO THE GOVERNOR, THE BOARD OF
COUNTY COMMISSIONERS OF WASHINGTON COUNTY, THE DEPARTMENT OF
BUSINESS AND ECONOMIC DEVELOPMENT, AND, SUBJECT TO § 2-1312 OF THE STATE
GOVERNMENT ARTICLE TO THE GENERAL ASSEMBLY.

(2) EACH REPORT SHALL SET FORTH THE COMPLETE OPERATING AND
FINANCIAL STATEMENT COVERING ITS OPERATIONS DURING THE PRECEDING
FISCAL YEAR AND SHALL SUMMARIZE THE CORPORATION'S ACTIVITIES.

5-1212. 5-1210.

(A) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, IN EXERCISING ITS
CORPORATE POWERS, THE CORPORATION IS EXEMPT FROM THE PROVISIONS OF
ARTICLES 41 AND 78A OF THE CODE § 10-507 OF THE STATE GOVERNMENT ARTICLE;
AND § 2-105, TITLE 2, SUBTITLES 2, 4, AND 5, TITLES 3 AND 4, TITLE 6, SUBTITLE 1,
TITLE 7, SUBTITLES 1, 2, AND 3, §§ 8-127, 8-128, AND 8-129, PART V OF TITLE 8, SUBTITLE
1, AND TITLE 10, AND DIVISION II OF THE STATE FINANCE AND PROCUREMENT
ARTICLE, AND MAY CARRY OUT ITS CORPORATE PURPOSES WITHOUT OBTAINING
THE CONSENT OF ANY DEPARTMENT, BOARD, OR AGENCY OF THE STATE.

(B) THE CORPORATION AND ITS OFFICERS AND EMPLOYEES ARE SUBJECT TO
THE PUBLIC ETHICS LAW AND THE PUBLIC INFORMATION ACT.

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