New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4209 - Regional Revolving Loan Trust Fund
Section 4209.8 - Recordkeeping, auditing and reporting
Current through Register Vol. 45, No. 52, December 27, 2023
(a) Each regional corporation shall maintain adequate books and records of its activities hereunder and shall submit semi-annual reports to the corporation describing the financial assistance provided pursuant to this Part, including:
(b) The corporation shall annually audit each regional corporation to ensure conformity to all aspects of financial assistance transactions with the substantive and procedural provisions of this Part. In the event that the corporation finds instances of substantive noncompliance by a regional corporation with any of the provisions of this Part, and such instances were, or should have been, known to be in noncompliance, the regional corporation shall be obligated to return, within a reasonable time, upon demand by the corporation, any funds advanced by the corporation for deposit into the regional corporation's loan fund account and any interest earned thereon.
Renumbered from 4209.9 New York State Register July 11, 2018/Volume XL, Issue 28, eff. 7/11/2018