Sec. 109. Reports
153 words·~1 min read·
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The Executive Director, in consultation with the Secretary, shall annually transmit a written report to the Congress. Such report shall include— a detailed description of the status and operation of the American Opportunity Fund and the management of the AO accounts; and a detailed accounting of the administrative expenses in carrying out this title, including the ratio of such administrative expenses to the balance of the American Opportunity Fund and the methodology adopted by the Executive Director for allocating such expenses among the AO accounts.
The American Opportunity Fund Board shall prescribe regulations under which each individual for whom an AO account is maintained shall be furnished with an annual statement relating to the individual’s account, which shall include— a statement of the balance of individual’s AO account; a projection of the account’s growth by the time the individual attains the age of 18; and such other information as the Secretary deems relevant.