2013 US Code
Title 45 - Railroads
Chapter 16 - REGIONAL RAIL REORGANIZATION (§§ 701 - 797m)
Subchapter II - UNITED STATES RAILWAY ASSOCIATION (§§ 711 - 729)
Section 722 - Records, audit, and examination
Publication Title | United States Code, 2012 Edition, Supplement 1, Title 45 - RAILROADS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 45 - RAILROADS CHAPTER 16 - REGIONAL RAIL REORGANIZATION SUBCHAPTER II - UNITED STATES RAILWAY ASSOCIATION Sec. 722 - Records, audit, and examination |
Contains | section 722 |
Date | 2013 |
Laws in Effect as of Date | January 16, 2014 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 93-236, title II, §212, Jan. 2, 1974, 87 Stat. 1002. |
Statutes at Large Reference | 87 Stat. 1002 |
Public Law Reference | Public Law 93-236 |
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Each recipient of financial assistance under this subchapter, whether in the form of loans, obligations, or other arrangements, shall keep such records as the Association or the Secretary shall prescribe, including records which fully disclose the amount and disposition by such recipient of the proceeds of such assistance and such other records as will facilitate an effective audit.
(b) Audit and examinationThe Association, the Secretary, and the Comptroller General of the United States, or any of their duly authorized representatives shall, until the expiration of 3 years after the implementation of the final system plan, have access for the purpose of audit and examination to any books, documents, papers, and records of such recipients which in the opinion of the Association, the Secretary, or the Comptroller General may be related or pertinent to the loans, obligations or other arrangements referred to in subsection (a) of this section. The Association or any of its duly authorized representatives shall, until any financial assistance received under this subchapter has been repaid to the Association, have access to any such materials which concern any matter that may bear upon—
(1) the ability of the recipient of such financial assistance to make repayment within the time fixed therefor;
(2) the effectiveness with which the proceeds of such assistance is used; and
(3) the implementation of the final system plan and the realization of the declaration of policy of this chapter.
(Pub. L. 93–236, title II, §212, Jan. 2, 1974, 87 Stat. 1002.)
ABOLITION OF UNITED STATES RAILWAY ASSOCIATION AND TRANSFER OF FUNCTIONS AND SECURITIESSee section 1341 of this title.
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