| (a) Manager. As provided by Finance Code §156.553,
the Commissioner serves as manager of the fund and administers all
aspects of the fund.
(b) Periodic Reports to the Finance Commission. Unless
the Finance Commission directs otherwise, the Commissioner or his
or her designee (including but not limited to the Grant Coordinator)
will report to the Finance Commission audit committee concerning the
status and activities of the fund at each regularly called meeting
of the Finance Commission audit committee, or otherwise at the request
of the Finance Commission or its audit committee.
(c) Mortgage Grant Administration Manual. The Commissioner
will develop and create a manual reflecting the Commissioner's policies
and procedures governing administration of the fund and the Mortgage
Grant Fund grant program to be known and referred to as the Mortgage
Grant Administration Manual (MGAM). The MGAM, and any amendments to
the MGAM, must be approved by the Finance Commission audit committee.
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