A public school or school district shall not be a member of any school athletic association unless that association has adopted a written policy that requires the following: 1. All records of the association to be made accessible consistent with the provisions of the Oklahoma Open Records Act; 2. All meetings of the association to be open and conducted in a manner consistent with the provisions of the Oklahoma Open Meeting Act, including specifically the notice and agenda, voting and executive session requirements; and 3. An annual financial audit and a compliance audit of all funds of the association in accordance with the auditing standards set forth in the Oklahoma Public School Audit Law. In addition, the association shall have performance audits conducted of the operations of the association. A performance audit shall be conducted no later than December 31, 2014, and by December 31 every five (5) years thereafter.
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