§ 1846. — Powers and duties.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1846]
TITLE 15--COMMERCE AND TRADE
CHAPTER 45--EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES
Sec. 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 Congress
The 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, Sec. 7, Aug. 9, 1971, 85 Stat. 180.)
Section Referred to in Other Sections
This section is referred to in section 1845 of this title.
