1. (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.
2. (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.
3. (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.
4. (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)