
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 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.
