38 U.S.C. § 2054 — Audit

FEDERAL · 38 U.S.C. · Chapter SUBCHAPTER VI—LOAN GUARANTEE FOR MULTIFAMILY TRANSITIONAL HOUSING

Audit

38 U.S.C. § 2054

ChapterSUBCHAPTER VI—LOAN GUARANTEE FOR MULTIFAMILY TRANSITIONAL HOUSING

This text of 38 U.S.C. § 2054 (Audit) 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

38 U.S.C. § 2054.

Text

(a)During each of the first 3 years of operation of a multifamily transitional housing project with respect to which a loan is guaranteed under this subchapter, there shall be an annual, independent audit of such operation. Such audit shall include a detailed statement of the operations, activities, and accomplishments of such project during the year covered by such audit. The party responsible for obtaining such audit (and paying the costs therefor) shall be determined before the Secretary issues a guarantee under this subchapter.

(b)After the first three years of operation of such a multifamily transitional housing project, the Secretary may provide for periodic audits of the project.

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(a) During each of the first 3 years of operation of a multifamily transitional housing project with respect to which a loan is guaranteed under this subchapter, there shall be an annual, independent audit of such operation. Such audit shall include a detailed statement of the operations, activities, and accomplishments of such project during the year covered by such audit. The party responsible for obtaining such audit (and paying the costs therefor) shall be determined before the Secretary issues a guarantee under this subchapter.
(b) After the first three years of operation of such a multifamily transitional housing project, the Secretary may provide for periodic audits of the project.

Source Credit

History

(Added Pub. L. 105–368, title VI, §601(a), Nov. 11, 1998, 112 Stat. 3345, §3775; amended Pub. L. 106–117, title VII, §712, Nov. 30, 1999, 113 Stat. 1584; renumbered §2054, Pub. L. 107–95, §5(d)(1), Dec. 21, 2001, 115 Stat. 918.)

Editorial Notes

Editorial Notes

Amendments
2001—Pub. L. 107–95 renumbered section 3775 of this title as this section.
1999—Pub. L. 106–117 designated existing provisions as subsec. (a) and added subsec. (b).

Statutory Notes and Related Subsidiaries

Effective Date
Section effective Oct. 1, 1998, see section 602(f) of Pub. L. 105–368, set out as an Effective Date of 1998 Amendment note under section 2106 of this title.

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Bluebook (online)

38 U.S.C. § 2054, Counsel Stack Legal Research, https://law.counselstack.com/usc/38/2054.