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U.S. Code as of:
01/19/04
Section 1846. Powers and duties
(a) Board; inspection of documents; disapproval of certain
transactions
The Board is authorized to inspect and copy all accounts, books,
records, memoranda, correspondence, and other documents of any
enterprise which has received financial assistance under this
chapter concerning any matter which may bear upon (1) the ability
of such enterprise to repay the loan within the time fixed
therefor; (2) the interests of the United States in the property of
such enterprise; and (3) the assurance that there is reasonable
protection to the United States. The Board is authorized to
disapprove any transaction of such enterprise involving the
disposition of its assets which may affect the repayment of a loan
that has been guaranteed pursuant to the provisions of this
chapter.
(b) General Accounting Office; audit; report to Board and Congress
The General Accounting Office shall make a detailed audit of all
accounts, books, records, and transactions of any borrower with
respect to which an application for a loan guarantee is made under
this chapter. The General Accounting Office shall report the
results of such audit to the Board and to the Congress.
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