§ 1846. Powers and duties

224 words·~1 min read·/usc/title-15/section-1846

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Board; inspection of documents; disapproval of certain transactions The Board is authorized to inspect and copy all accounts, books, records, memoranda, correspondence, and other documents of any enterprise which has received financial assistance under this chapter concerning any matter which may bear upon

(1)the ability of such enterprise to repay the loan within the time fixed therefor;

(2)the interests of the United States in the property of such enterprise; and

(3)the assurance that there is reasonable protection to the United States. The Board is authorized to disapprove any transaction of such enterprise involving the disposition of its assets which may affect the repayment of a loan that has been guaranteed pursuant to the provisions of this chapter.

(b)Government Accountability Office; audit; report to Board and Congress The Government Accountability Office shall make a detailed audit of all accounts, books, records, and transactions of any borrower with respect to which an application for a loan guarantee is made under this chapter. The Government Accountability Office shall report the results of such audit to the Board and to the Congress.

(Pub. L. 92–70, § 7, Aug. 9, 1971, 85 Stat. 180; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814.)

Connections2 cite this

Cited by 2 sections

U.S. Code

§ 1845
Requirements applicable to loan guarantees

statute-compilations

Sec. 7
inspection of documents; authority to disapprove certain transactions

5 references not yet in our index

Pub. L. 92–70, § 7
85 Stat. 180
Pub. L. 108–271, § 8(b)
118 Stat. 814
Pub. L. 108–271

Citation graph

cites case law

§ 1846

Powers and duties

Stat. Comp.×1

U.S.C.×1

Pub. L.Pub. L. 92–70, § 7

Stat.85 Stat. 180

Pub. L.Pub. L. 108–271, § 8(b)

Stat.118 Stat. 814

Pub. L.Pub. L. 108–271

Cites 5Cited by 2 across 2 sources