There is a newer version of the Maryland Code
Maryland Department of Business and Economic Development Section 5-912
§ 5-912.
  The Authority shall:
    (1)   Keep proper records of its funds and accounts;
    (2)   Make an annual report by December 31 on its condition and operations to the Governor, the General Assembly in accordance with § 2-1246 of the State Government Article, and the chairman of the Joint Audit Committee; and
    (3)   Be audited annually.
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