Rhode Island General Laws 42-64.25-8. Audits
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The commerce corporation may conduct audits of any participating lending organization in order to ensure compliance with the provisions of this chapter, any regulations promulgated with respect thereto and agreements between the lending organizations and the commerce corporation on all aspects of the use of program funds and program loan transactions. In the event that the commerce corporation finds noncompliance, the commerce corporation may terminate the lending organization’s participation in the program.
History of Section.
P.L. 2015, ch. 141, art. 19, § 8.
Terms Used In Rhode Island General Laws 42-64.25-8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.