An affiliated foundation of an eligible institution that receives State payments shall provide to the Maryland Higher Education Commission an annual audit of all pledged and paid amounts and their sources, and a copy of the annual audit shall be provided to the Legislative Auditor.
Md. Code Ann., Educ. § 17-303
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.