§ 2054. Audit

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(a)During each of the first 3 years of operation of a multifamily transitional housing project with respect to which a loan is guaranteed under this subchapter, there shall be an annual, independent audit of such operation. Such audit shall include a detailed statement of the operations, activities, and accomplishments of such project during the year covered by such audit. The party responsible for obtaining such audit (and paying the costs therefor) shall be determined before the Secretary issues a guarantee under this subchapter.

(b)After the first three years of operation of such a multifamily transitional housing project, the Secretary may provide for periodic audits of the project.

(Added Pub. L. 105–368, title VI, § 601(a), Nov. 11, 1998, 112 Stat. 3345, § 3775; amended Pub. L. 106–117, title VII, § 712, Nov. 30, 1999, 113 Stat. 1584; renumbered § 2054, Pub. L. 107–95, § 5(d)(1), Dec. 21, 2001, 115 Stat. 918.)

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U.S. Code

Veterans’ mortgage life insurance
§ 2106

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Pub. L. 105–368, title VI, § 601(a)
112 Stat. 3345
Pub. L. 106–117, title VII, § 712
113 Stat. 1584
Pub. L. 107–95, § 5(d)(1)
115 Stat. 918
Pub. L. 107–95
section 3775 of this title
Pub. L. 106–117
section 602(f) of Pub. L. 105–368

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§ 2054

Audit

U.S.C.§ 2106

Pub. L.Pub. L. 105–368, title VI, § 601(a)

Stat.112 Stat. 3345

Pub. L.Pub. L. 106–117, title VII, § 712

Stat.113 Stat. 1584

Pub. L.Pub. L. 107–95, § 5(d)(1)

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