
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document affected by Public Law 106-474 Section 201(b)]
[CITE: 36USC10101]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                             Part A--General
 
                          CHAPTER 101--GENERAL
 
Sec. 10101. Audits

    (a) General.--Except as otherwise provided, the financial statements 
of each corporation in part B of this subtitle shall be audited annually 
in accordance with generally accepted auditing standards by an 
independent certified public accountant or independent licensed public 
accountant, certified or licensed by a regulatory authority of a State 
or other political subdivision of the United States. The audit shall be 
conducted where the financial statements of the corporation normally are 
kept. The person conducting the audit shall be given access to--
        (1) all records and property owned or used by the corporation 
    necessary to facilitate the audit; and
        (2) full facilities for verifying transactions with the balances 
    or securities held by depositories, fiscal agents, and custodians.

    (b) Report.--(1) The corporation shall submit a report of the audit 
to Congress not later than 6 months after the close of the fiscal year 
for which the audit is made. The report shall describe the scope of the 
audit and include--
        (A) statements necessary to present fairly the corporation's 
    assets, liabilities, and surplus or deficit, and an analysis of the 
    changes in those amounts during the year;
        (B) a statement in reasonable detail of the corporation's income 
    and expenses during the year including the results of any trading, 
    manufacturing, publishing, or other commercial-type endeavor; and
        (C) the independent auditor's opinion of those statements.

    (2) The report may not be printed as a public document, except as 
part of proceedings authorized to be printed under section 1332 of title 
44.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1283.)

                                          Historical and Revision Notes
-------------------------------------------------------------------------------
---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
10101(a)..............................  36:1084 (less (b) (2d sentence   July 1
6, 1964, Pub. L. 88-378, Sec.  14
                                         cl. (2))).                       (less
 (b) (2d sentence cl. (2))), 78
                                                                          Stat.
 327.
                                        36:1101(1)-(76), (77) (related   Aug. 3
0, 1964, Pub. L. 88-504, Sec.
                                         to Fleet Reserve Association).   1(1)-
(76), (77) (related to Fleet
                                                                          Reser
ve Association), 78 Stat. 635;
                                                                          Dec. 
15, 1975, Pub. L. 94-151, Sec.
                                                                          2, 89
 Stat. 809; Nov. 11, 1977, Pub.
                                                                          L. 95
-167, Sec.  2, 91 Stat. 1348;
                                                                          Dec. 
29, 1979, Pub. L. 96-165, Sec.
                                                                          9(g),
 93 Stat. 1272; Dec. 2, 1980,
                                                                          Pub. 
L. 96-489, Sec.  11, 94 Stat.
                                                                          2554;
 Dec. 4, 1980, Pub. L. 96-497,
                                                                          Sec. 
 11, 94 Stat. 2596; Nov. 20,
                                                                          1981,
 Pub. L. 97-82, Sec.  11, 95
                                                                          Stat.
 1093; Nov. 20, 1981, Pub. L. 97-
                                                                          83, S
ec.  11, 95 Stat. 1095; June 1,
                                                                          1982,
 Pub. L. 97-192, Sec.  11, 96
                                                                          Stat.
 110; Aug. 9, 1982, Pub. L. 97-
                                                                          231, 
Sec.  11, 96 Stat. 257; Aug. 10,
                                                                          1982,
 Pub. L. 97-234, Sec.  11, 96
                                                                          Stat.
 263; Jan. 8, 1983, Pub. L. 97-
                                                                          427, 
Sec.  11, 96 Stat. 2266; Apr. 10,
                                                                          1984,
 Pub. L. 98-257, Sec.  11, 98
                                                                          Stat.
 128; June 12, 1984, Pub. L. 98-
                                                                          314, 
Sec.  11, 98 Stat. 239; July 23,
                                                                          1984,
 Pub. L. 98-372, Sec.  11, 98
                                                                          Stat.
 1240; Aug. 17, 1984, Pub. L. 98-
                                                                          382, 
Sec.  11, 98 Stat. 1345; Aug. 21,
                                                                          1984,
 Pub. L. 98-391, Sec.  11, 98
                                                                          Stat.
 1360; Oct. 19, 1984, Pub. L. 98-
                                                                          520, 
Sec.  11, 98 Stat. 2429; Oct. 30,
                                                                          1984,
 Pub. L. 98-561, Sec.  12, 98
                                                                          Stat.
 2912; Oct. 30, 1984, Pub. L. 98-
                                                                          565, 
Sec.  11, 98 Stat. 2921; Oct. 30,
                                                                          1984,
 Pub. L. 98-584, Sec.  11, 98
                                                                          Stat.
 3098; Oct. 7, 1985, Pub. L. 99-
                                                                          119, 
Sec.  11, 99 Stat. 500; Dec. 9,
                                                                          1985,
 Pub. L. 99-172, Sec.  11, 99
                                                                          Stat.
 1022; May 23, 1986, Pub. L. 99-
                                                                          318, 
Sec.  12, 100 Stat. 476; Nov. 6,
                                                                          1986,
 Pub. L. 99-604, Sec.  11, 100
                                                                          Stat.
 3448; Apr. 6, 1988, Pub. L. 100-
                                                                          281, 
Sec.  12, 102 Stat. 75; Nov. 14,
                                                                          1988,
 Pub. L. 100-655, title I, Sec.
                                                                          111, 
102 Stat. 3851; Nov. 5, 1990,
                                                                          Pub. 
L. 101-510, title XVI, Sec.
                                                                          1611,
 104 Stat. 1738; Dec. 10, 1991,
                                                                          Pub. 
L. 102-199, Sec.  2, 105 Stat.
                                                                          1629;
 Oct. 23, 1992, Pub. L. 102-484,
                                                                          title
 XVIII, Secs.  1812, 1832, 106
                                                                          Stat.
 2583, 2585; Sept. 23, 1996, Pub.
                                                                          L. 10
4-201, title XVIII, Sec.  1811,
                                                                          110 S
tat. 2762.
                                        36:1102.                         Aug. 3
0, 1964, Pub. L. 88-504, Secs.
                                                                          2, 3,
 78 Stat. 636.
                                        36:1166.                         Aug. 1
1, 1971, Pub. L. 92-93, Sec.  16,
                                                                          85 St
at. 319.
                                        36:1213(a).                      Oct. 2
0, 1978, Pub. L. 95-493, Sec.
                                                                          13(a)
, 92 Stat. 1646.
                                        36:4315 (less (b) (2d sentence   July 1
4, 1964, Pub. L. 88-372, Sec.  15
                                         cl. (2))).                       (less
 (b) (2d sentence cl. (2))), 78
                                                                          Stat.
 317.
                                        36:4514 (less (b) (2d sentence   July 1
4, 1964, Pub. L. 88-376, Sec.  14
                                         cl. (2))).                       (less
 (b) (2d sentence cl. (2))), 78
                                                                          Stat.
 323.
                                        36:4610 (less (b) (2d sentence   Aug. 1
9, 1964, Pub. L. 88-449, Sec.  10
                                         cl. (2))).                       (less
 (b) (2d sentence cl. (2))), 78
                                                                          Stat.
 498.
                                        36:5206(a).                      Oct. 2
6, 1992, Pub. L. 102-522, Sec.
                                                                          207(a
), 106 Stat. 3420.
                                        36:5706(a).                      Oct. 1
1, 1996, Pub. L. 104-285, title
                                                                          II, S
ec.  207(a), 110 Stat. 3385.
10101(b)..............................  36:1103.
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---------------------------------

    In this section, the text of 36:1101 is omitted as unnecessary 
because of the addition of the words ``Except as otherwise provided'' in 
subsection (a) of this section. The text of 36:1166, 1213(a), and 
5206(a) is omitted as unnecessary because of the restatement of 36:1102 
and 1103 as general provisions covering, except as otherwise provided, 
all federally chartered corporations referred to in part B of subtitle 
II of the revised title. The text of 36:1084 (less (b) (2d sentence cl. 
(2))), 4315 (less (b) (2d sentence cl. (2))), 4514 (less (b) (2d 
sentence cl. (2))), and 4610 (less (b) (2d sentence cl. (2))) is omitted 
as unnecessary because of the restatement in this section of the general 
audit provisions of 36:1102 and 1103.
    In subsection (a), before clause (1), the words ``Except as 
otherwise provided'' are added because certain corporations referred to 
in part B of subtitle II of the revised title are not covered by the 
audit requirements restated in the revised section. The words ``at the 
place or places'' and ``or persons'' are omitted as unnecessary. The 
words ``financial statements'' are substituted for ``accounts'' to use 
the generally accepted term for audits conducted by public accountants. 
The words ``shall be given access to'' are substituted for ``shall be 
made available to'' and ``shall be afforded to'' for consistency. In 
clause (1), the words ``records and property owned or used by'' are 
substituted for ``books, accounts, financial records, reports, files, 
and all other papers, things, or property belonging to or in use by'' 
for consistency in the revised title and with other titles of the United 
States Code and to eliminate unnecessary words.
    In subsection (b)(1)(B), the words ``supplemented . . . by'' and 
``carried on by the corporation'' are omitted as unnecessary.

                  Section Referred to in Other Sections

    This section is referred to in sections 20212, 20307, 20712, 20913, 
21012, 21112, 21507, 22912, 23109, 40112, 40707, 50112, 60112, 70112, 
70312, 70708, 100112, 110112, 130510, 140712, 150113, 150909, 151108, 
151512, 152112, 152913, 153510, 154512, 154713, 170313, 170512, 190313, 
200106, 210107, 210313, 220314, 220712, 230513, 240112 of this title; 
title 16 sections 583j-5, 3706, 5807; title 20 section 5509.
