(a) Chapter 2256 applies to an organization that is a party to an agreement under this subchapter to the extent that the agreement authorizes the organization to exercise control over state money.
(b) An organization that is a party to an agreement under this subchapter shall have an annual audit prepared by an independent auditor. The organization shall file the audit report with the commission.
(c) All financial transactions involving, and financial records relating to, state money held by an organization that is a party to an agreement under this subchapter are subject to audit by the state auditor as provided by Section 321.013.