1994 US Code
Title 15 - COMMERCE AND TRADE
CHAPTER 45 - EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES
Sec. 1846 - Powers and duties
View MetadataPublication Title | United States Code, 1994 Edition, Title 15 - COMMERCE AND TRADE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 45 - EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES Sec. 1846 - Powers and duties |
Contains | section 1846 |
Date | 1994 |
Laws in Effect as of Date | January 4, 1995 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 92 70, §7, Aug. 9, 1971, 85 Stat. 180. |
Statutes at Large Reference | 85 Stat. 180 |
§1846. Powers and duties (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) General Accounting Office; audit; report to Board and CongressThe General Accounting 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 General Accounting 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.)
Section Referred to in Other SectionsThis section is referred to in section 1845 of this title.
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