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§ 3-508. Records; financial statements

West's Annotated Code of MarylandCorrectional Services

West's Annotated Code of Maryland
Correctional Services (Refs & Annos)
Title 3. Division of Correction (Refs & Annos)
Subtitle 5. Maryland Correctional Enterprises (Refs & Annos)
MD Code, Correctional Services, § 3-508
§ 3-508. Records; financial statements
(a) The Division shall:
(1) formulate an accounting and record system that at all times indicates the source, nature, and extent of purchases and sales of Maryland Correctional Enterprises; and
(2) maintain accounting records and prepare financial statements in accordance with generally accepted accounting principles for enterprise fund type activities.
(b) The financial statements required under subsection (a)(2) of this section shall be prepared and available for audit purposes not later than 60 days after the close of each fiscal year.

Credits

Added by Acts 1999, c. 54, § 2, eff. Oct. 1, 1999. Amended by Acts 2005, c. 25, § 13, eff. April 12, 2005; Acts 2005, c. 124, § 1, eff. Oct. 1, 2005.
Formerly Art. 27, § 681-I.
MD Code, Correctional Services, § 3-508, MD CORR SERV § 3-508
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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