Section 803 – Annual accounting.

• (1) The office shall monitor the activities of recipients of the loans and loan guarantees issued under this part on a yearly basis to ensure compliance with the terms and conditions imposed on the recipient by the office under this part.

• (2) An entity receiving a loan or loan guarantee under this part shall provide the office with an annual accounting of how the money it received from the fund was spent.

• (3) The office shall include the following information in the office’s annual written report described in Section 63N-1a-306:
  • (a) an accounting of expenditures made from the fund; and
  • (b) an evaluation of the effectiveness of the loan and loan guarantee program.

Renumbered and Amended by Chapter 22, 2022 General Session