(a) The Guam Basketball Confederation shall annually submit a copy of the financial statement required in § 14102, Chapter 14 of Title 18, Guam Code Ann. to the Speaker of I Liheslaturan Guåhan, the Public Auditor, and the Administrator of GEDA.

(b) The Guam Basketball Confederation must ensure that it is current with all its articles and by-laws, and should there be any amendments to such documents, it should immediately file such amendments to the Department of Revenue and Taxation.