12 U.S.C. § 1747e — Financial statements by Secretary

FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER VII—INSURANCE FOR INVESTMENTS IN RENTAL HOUSING FOR FAMILIES OF MODERATE INCOME

Financial statements by Secretary

12 U.S.C. § 1747e

Title12 — Banks and Banking

ChapterSUBCHAPTER VII—INSURANCE FOR INVESTMENTS IN RENTAL HOUSING FOR FAMILIES OF MODERATE INCOME

This text of 12 U.S.C. § 1747e (Financial statements by Secretary) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

12 U.S.C. § 1747e.

Text

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.

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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.

Source Credit

History

(June 27, 1934, ch. 847, title VII, §706, as added Aug. 10, 1948, ch. 832, title IV, §401, 62 Stat. 1278; amended Apr. 20, 1950, ch. 94, title I, §122, 64 Stat. 59; Pub. L. 90–19, §1(a)(3), May 25, 1967, 81 Stat. 17.)

Editorial Notes

Editorial Notes

Amendments
1967—Pub. L. 90–19 substituted "Secretary" for "Commissioner" wherever appearing.
1950—Act Apr. 20, 1950, substituted "Commissioner" for "Administrator" wherever appearing.

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Bluebook (online)

12 U.S.C. § 1747e, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/1747e.