(a) Inspection.--An applicant or a recipient shall, upon request, permit authorized employees of the authority or its agent to inspect the plant, books and records of the applicant or recipient. (b) Updating.--An applicant or a recipient shall provide updated information to the authority and its agents if conditions change or to the extent that the information originally given becomes inaccurate or misleading. (c) Periodic reports.--A recipient shall provide the authority and its agents with such periodic financial reports as the authority may require until the loan is repaid in full. (d) Financial and performance audits.--An agent of the authority shall annually submit to the authority, at the agent's expense, an independent financial audit. If the audit reveals misconduct of a material nature on the part of the agent, the authority shall take appropriate action. (Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
Pennsylvania Legal Code