Texas Agriculture Code
§ 74.109 — BOARD DUTIES
AG § 74.109Title 5. PRODUCTION, PROCESSING, AND SALE OF HORTICULTURAL PRODUCTS · Part B. HORTICULTURAL DISEASES AND PESTS · Ch. 74. COTTON DISEASES AND PESTS · Art. D. OFFICIAL COTTON GROWERS' BOLL WEEVIL ERADICATION FOUNDATION
Statute text
View on source(a)The board shall have an annual independent audit of the books, records of account, and minutes of proceedings maintained by the foundation prepared by an independent certified public accountant or a firm of independent certified public accountants. The audit shall include information for each zone in which an eradication program has been conducted under this subchapter. The audit shall be filed with the board, the commissioner, and the state auditor and shall be made available to the public by the foundation or the commissioner. The state auditor may examine any work papers from the independent audit or may audit the transactions of the foundation if the state auditor determines that an audit is necessary.
(b)Not later than the 45th day after the last day of the fiscal year, the board shall submit to the commissioner a report itemizing all income and expenditures and describing all activities of the foundation during the fiscal year.
(c)The foundation shall provide fidelity bonds in amounts determined by the board for employees or agents who handle funds for the foundation.
(d)The foundation and the board are state agencies for the following purposes only:
(1)exemption from taxation including exemption from sales and use taxes, vehicle registration fees, and taxes under Chapter 152, Tax Code; and
(2)indemnification under Chapter 104, Civil Practice and Remedies Code.
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Legislative history
Added by Acts 1993, 73rd Leg., ch. 8, Sec. 1, eff. June 1, 1993. Amended by Acts 1995, 74th Leg., ch. 227, Sec. 6, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 463, Sec. 1.10, 2.03, eff. May 30, 1997.