
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC4517]

 
                       TITLE 12--BANKS AND BANKING
 
              CHAPTER 46--GOVERNMENT SPONSORED ENTERPRISES
 
         SUBCHAPTER I--SUPERVISION AND REGULATION OF ENTERPRISES
 
            Part A--Financial Safety and Soundness Regulator
 
Sec. 4517. Examinations


(a) Annual examination

    The Director shall annually conduct an on-site examination under 
this section of each enterprise to determine the condition of the 
enterprise for the purpose of ensuring its financial safety and 
soundness.

(b) Other examinations

    In addition to annual examinations under subsection (a) of this 
section, the Director may conduct an examination under this section 
whenever the Director determines that an examination is necessary to 
determine the condition of an enterprise for the purpose of ensuring its 
financial safety and soundness.

(c) Examiners

    The Director shall appoint examiners to conduct examinations under 
this section. The Director may contract with the Comptroller of the 
Currency, the Board of Governors of the Federal Reserve System, the 
Federal Deposit Insurance Corporation, or the Director of the Office of 
Thrift Supervision for the services of examiners. The Director shall 
reimburse such agencies for any costs of providing examiners from 
amounts available in the Federal Housing Enterprises Oversight Fund.

(d) Law applicable to examiners

    The Director and each examiner shall have the same authority and 
each examiner shall be subject to the same disclosures, prohibitions, 
obligations, and penalties as are applicable to examiners employed by 
the Federal Reserve banks.

(e) Technical experts

    The Director may obtain the services of any technical experts the 
Director considers appropriate to provide temporary technical assistance 
relating to examinations to the Director, officers, and employees of the 
Office. The Director shall describe, in the record of each examination, 
the nature and extent of any such temporary technical assistance.

(f) Oaths, evidence, and subpoena powers

    In connection with examinations under this section, the Director 
shall have the authority provided under section 4641 of this title.

(Pub. L. 102-550, title XIII, Sec. 1317, Oct. 28, 1992, 106 Stat. 3949.)

                  Section Referred to in Other Sections

    This section is referred to in sections 4513, 4516, 4521 of this 
title.
