2015 US Code
Title 15 - Commerce and Trade (Sections 1 - 8405)
Chapter 45 - Emergency Loan Guarantees to Business Enterprises (Sections 1841 - 1852)
Sec. 1846 - Powers and duties

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Publication TitleUnited States Code, 2012 Edition, Supplement 3, Title 15 - COMMERCE AND TRADE
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 15 - COMMERCE AND TRADE
Sec. 1846 - Powers and duties
Containssection 1846
Laws In Effect As Of DateJanuary 3, 2016
Positive LawNo
Source CreditPub. L. 92-70, §7, Aug. 9, 1971, 85 Stat. 180; Pub. L. 108-271, §8(b), July 7, 2004, 118 Stat. 814.
Statutes at Large References85 Stat. 180
118 Stat. 814
Public and Private LawsPublic Law 92-70, Public Law 108-271

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15 U.S.C. § 1846 (2015)

§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) 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.)


2004—Subsec. (b). Pub. L. 108–271 substituted "Government Accountability Office" for "General Accounting Office" in two places.

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