The council shall keep detailed and accurate records of all receipts and disbursements, have such records audited annually, and keep such audit available for inspection at the council office.

1. A. All monies received by the council shall be deposited in a bank that qualifies as a depository for state funds.
2. B. Monies withdrawn from or paid out of such accounts shall require two authorized signatures. A receipt, voucher, or other written record showing clearly the nature and items covered by each check or other order shall be retained.

3. C. All monies received shall be used by the council in carrying out the "New Mexico Beef Council Act" and/or the "Cattlemen's Beef Promotion and Research Act."

   [12-02-86; 03-18-93; Recompiled 12/31/01]