On the preliminary completion of an examination of a public senior higher education institution by the Office of Legislative Audits, the Legislative Auditor shall send a copy of the discussion notes of the examination relating to any preliminary findings of substantial fiscal impropriety to the following individuals and governing boards of the respective institutions that were subject to the examination:

(1) the Chancellor of the University System of Maryland and the University System of Maryland Board of Regents Audit Committee;

(2) the President of Morgan State University and the Finance and Facilities Committee of the Board of Regents of Morgan State University; or

(3) the President of St. Mary’s College of Maryland and the Finance, Investment, and Audit Committee of the Board of Trustees of St. Mary’s College of Maryland.