The Board of Directors shall, not later than 90 days after the end of each fiscal year:
1. Prepare a report on the operations of the Bank during that year.
2. Submit the report prepared pursuant to subsection 1 to:
(a) The Governor; and
(b) The Director of the Legislative Counsel Bureau for transmittal to:
(1) If the report is prepared in an even-numbered year, the next regular session of the Legislature; or
(2) If the report is prepared in an odd-numbered year, the Legislative Commission.