Md. Code Regs. 05.06.04.15

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.06.04.15 - Books and Accounts

A. The lender shall require the sponsor and its contractors and subcontractors to maintain such books, accounts, and records, and shall file with the lender such financial and other reports as the Fund from time to time may require.

B. The books, accounts, and records required by §A of this regulation to be maintained shall be open to the inspection of representatives of the Fund or other agencies of the State during reasonable working hours.

C. Books, accounts, and records of the sponsor shall be maintained and made available for inspection for 3 years past the date of termination of the contractual relationship between the borrower and the lender. Books, accounts, and records of contractors and subcontractors shall be maintained and made available for inspection for 3 years past the date of termination of the contractual relationships between them and the sponsor.

Md. Code Regs. 05.06.04.15