PARRIS N. GLENDENING, Governor

Ch. 14

(d) (1) All funds collected under this section shall be held by the Comptroller of
the Treasury in a special revolving fund, and disbursed for the sole purpose of defraying
the cost of examinations required or authorized by the Commissioner.

(2) Moneys may be expended from the fund only if an appropriation is
included in the annual budget bill.

DRAFTER'S NOTE:

Error: Repealed subtitle and obsolete section designation of § 11-104 of the
Financial Institutions Article.

Occurred: Chs. 326 and 524, Acts of 1996.

13-719.

In addition to the duties set forth elsewhere in this subtitle, the Authority shall:

(1) Keep records as are consistent with sound business practices and
accounting records using generally accepted accounting principles;

(2) Cause an audit by an independent certified public accountant to be
made of the accounts and transactions of the Authority at the conclusion of each fiscal

year;

(3) Be subject to audit and examination at any reasonable time of the
accounts and transactions of the Authority by the Office of Legislative Audits of the
Department of Fiscal Services;

(4) Submit a detailed annual report of the activities and financial standing
of the Authority to the Governor, and subject to § 2-1312 of the State Government
Article, to the General Assembly;

(5) Submit annually a budget reflecting the operating and capital program
of the Authority to the Department of Budget and Management for inclusion for
informational purposes in the State budget book;

(6) Submit a report prepared in cooperation with the State Lottery Agency
and the Department of Budget and Management on the effect of the lotteries conducted
under § 9-120.1 of the State Government Article on the lottery revenues earned for the
General Fund;

(7) Submit annually a report prepared in cooperation with the Office of the
Comptroller and the Department of Budget and Management on the additional tax
revenues generated by the Baltimore Convention Center facility;

(8) Submit annually a report prepared in cooperation with the Office of the
Comptroller and the Department of Budget and Management on the additional tax
revenues generated by the Ocean City Convention Center facility; and

(9) Submit annually a report prepared in cooperation with the Office of the
Comptroller and the Department of Budget and Management on the additional tax
revenues generated by the Montgomery County Conference Center facility.

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