§ 1747e. — Financial statements by Secretary.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1747e]
TITLE 12--BANKS AND BANKING
CHAPTER 13--NATIONAL HOUSING
SUBCHAPTER VII--INSURANCE FOR INVESTMENTS IN RENTAL HOUSING FOR FAMILIES
OF MODERATE INCOME
Sec. 1747e. Financial statements by Secretary
With respect to each project insured under this subchapter, the
Secretary shall provide that, after the close of each operating year,
the investor shall submit to him for approval a financial and operating
statement covering such operating year. If any such financial and
operating statement shall not have been submitted or, for proper cause,
shall not have been approved by the Secretary, payment of any claim
submitted by the investor may, at the option of the Secretary, be
withheld, in whole or in part, until such statement shall have been
submitted and approved.
(June 27, 1934, ch. 847, title VII, Sec. 706, as added Aug. 10, 1948,
ch. 832, title IV, Sec. 401, 62 Stat. 1278; amended Apr. 20, 1950, ch.
94, title I, Sec. 122, 64 Stat. 59; Pub. L. 90-19, Sec. 1(a)(3), May 25,
1967, 81 Stat. 17.)
Amendments
1967--Pub. L. 90-19 substituted ``Secretary'' for ``Commissioner''
wherever appearing.
1950--Act Apr. 20, 1950, substituted ``Commissioner'' for
``Administrator'' wherever appearing.
