(a) The Legislative Auditor shall conduct a fiscal and compliance audit of the accounts and transactions of the Society for each year in which the Society receives a disbursement from the Rate Stabilization Account under § 19-805 of this article.

(b) Within one year of the date of an audit report required under subsection (a) of this section, the Legislative Auditor shall conduct a follow-up audit to determine the status of any audit recommendations.

(c) The Society shall pay the cost of each audit.