
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 45USC722]

 
                           TITLE 45--RAILROADS
 
                CHAPTER 16--REGIONAL RAIL REORGANIZATION
 
            SUBCHAPTER II--UNITED STATES RAILWAY ASSOCIATION
 
Sec. 722. Records, audit, and examination


(a) Records

    Each recipient of financial assistance under this subchapter, 
whether in the form of loans, obligations, or other arrangements, shall 
keep such records as the Association or the Secretary shall prescribe, 
including records which fully disclose the amount and disposition by 
such recipient of the proceeds of such assistance and such other records 
as will facilitate an effective audit.

(b) Audit and examination

    The Association, the Secretary, and the Comptroller General of the 
United States, or any of their duly authorized representatives shall, 
until the expiration of 3 years after the implementation of the final 
system plan, have access for the purpose of audit and examination to any 
books, documents, papers, and records of such recipients which in the 
opinion of the Association, the Secretary, or the Comptroller General 
may be related or pertinent to the loans, obligations or other 
arrangements referred to in subsection (a) of this section. The 
Association or any of its duly authorized representatives shall, until 
any financial assistance received under this subchapter has been repaid 
to the Association, have access to any such materials which concern any 
matter that may bear upon--
        (1) the ability of the recipient of such financial assistance to 
    make repayment within the time fixed therefor;
        (2) the effectiveness with which the proceeds of such assistance 
    is used; and
        (3) the implementation of the final system plan and the 
    realization of the declaration of policy of this chapter.

(Pub. L. 93-236, title II, Sec. 212, Jan. 2, 1974, 87 Stat. 1002.)

Abolition of United States Railway Association and Transfer of Functions 
                             and Securities

    See section 1341 of this title.
