
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document affected by Public Law 107-95 Section 5(d)(1)]
[CITE: 38USC3775]

 
                      TITLE 38--VETERANS' BENEFITS
 
               PART III--READJUSTMENT AND RELATED BENEFITS
 
              CHAPTER 37--HOUSING AND SMALL BUSINESS LOANS
 
 SUBCHAPTER VI--LOAN GUARANTEE FOR MULTIFAMILY TRANSITIONAL HOUSING FOR 
                            HOMELESS VETERANS
 
Sec. 3775. Audit

    (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.

(Added Pub. L. 105-368, title VI, Sec. 601(a), Nov. 11, 1998, 112 Stat. 
3345; amended Pub. L. 106-117, title VII, Sec. 712, Nov. 30, 1999, 113 
Stat. 1584.)


                               Amendments

    1999--Pub. L. 106-117 designated existing provisions as subsec. (a) 
and added subsec. (b).
