
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: 48USC1692]

 
              TITLE 48--TERRITORIES AND INSULAR POSSESSIONS
 
           CHAPTER 14--TRUST TERRITORY OF THE PACIFIC ISLANDS
 
Sec. 1692. Comprehensive annual financial report by chief 
        executives of governments of the Marshall Islands, Federated 
        States of Micronesia, Palau, and Northern Mariana Islands; 
        contents; other reports
        
    The chief executives of the governments of the Marshall Islands, the 
Federated States of Micronesia, Palau, and the Northern Mariana Islands 
shall prepare, publish, and submit to the Congress and the Secretary of 
the Interior a comprehensive annual financial report in conformance with 
the standards of the National Council on Governmental Accounting within 
one hundred and twenty days after the close of the fiscal year. The 
comprehensive annual financial report shall include statistical data as 
set forth in the standards of the National Council on Governmental 
Accounting relating to the physical, economic, social, and political 
characteristics of the government, and any other information required by 
the Congress. The chief executives shall also make such other reports at 
such other times as may be required by the Congress or under applicable 
Federal laws. This section is not subject to termination under section 
502(a)(3) of the Covenant to Establish a Commonwealth of the Northern 
Mariana Islands in Political Union with the United States of America (90 
Stat. 263, 268).

(Pub. L. 92-257, Sec. 5, Mar. 21, 1972, 86 Stat. 88; Pub. L. 97-357, 
title II, Sec. 203(a), Oct. 19, 1982, 96 Stat. 1707; Pub. L. 105-362, 
title IX, Sec. 901(p), Nov. 10, 1998, 112 Stat. 3291.)

                       References in Text

    Section 502(a)(3) of the Covenant to Establish a Commonwealth of the 
Northern Mariana Islands in Political Union with the United States of 
America, referred to in text, is contained in section 1 of Pub. L. 94-
241, set out as a note under section 1801 of this title.


                               Amendments

    1998--Pub. L. 105-362 struck out ``The chief executives shall 
transmit the comprehensive annual financial report to the Inspector 
General of the Department of the Interior who shall audit it and report 
his findings to the Congress.'' after ``required by the Congress.'' and 
``The chief executives shall submit to the Congress, the Secretary of 
the Interior, the High Commissioner of the Trust Territory of the 
Pacific Islands, and the cognizant Federal auditors a written statement 
of actions taken or contemplated on Federal audit recommendations within 
sixty days after the issuance date of the audit report.'' after 
``applicable Federal law.''
    1982--Pub. L. 97-357 substituted provisions relating to preparation, 
etc., by the chief executives of the governments of the Marshall 
Islands, etc., of a comprehensive annual financial report to be 
submitted to the Congress and the Secretary of the Interior and 
transmitted to the Inspector General of the Interior Department, 
preparation of other congressionally required reports, submission of a 
written statement of actions taken or contemplated on Federal audit 
recommendations, and prohibition of termination of this section under 
the Covenant to Establish a Commonwealth of the Northern Mariana Islands 
in Political Union with the United States, for provisions relating to an 
annual report by the High Commissioner of the Trust Territory of the 
Pacific Islands on the administration of sections 1688 to 1693 of this 
title.


      Exception to Requirement that Statement be Submitted to High 
         Commissioner of Trust Territory of the Pacific Islands

    Section 203(e) of Pub. L. 97-357 provided that: ``Nothing in this 
section [adding section 1681b of this title, amending this section, and 
repealing section 1681c of this title] shall be construed as requiring 
the Governor of the Northern Mariana Islands to submit any statement or 
report to the High Commissioner of the Trust Territory of the Pacific 
Islands.''

                  Section Referred to in Other Sections

    This section is referred to in sections 1688, 1690 of this title.
