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U.S. Code as of:
01/19/04
Section 3938. Annual report of corporation; audit of accounts
(a)(1) The corporation shall submit an annual report to the
President for transmittal to the Congress within six months after
the end of its fiscal year. The report shall include a
comprehensive and detailed report of the operations, activities,
and financial condition of the corporation and the partnership
under this chapter.
(2) The report shall contain a description of the activities
undertaken under section 3936(a)(4) of this title, and shall
specify, as a percentage of equity and in dollars, the extent of
the corporation's and the partnership's investment in housing for
the benefit of families and individuals of low or moderate income,
the extent of the corporation's and the partnership's investment in
other housing, and the extent of the corporation's and the
partnership's activities which are undertaken under section
3936(a)(4) of this title.
(b) The accounts of the corporation and of the partnership shall
be audited annually in accordance with generally accepted auditing
standards by independent certified public accountants or
independent licensed public accountants certified or licensed by a
regulatory authority of a State or other political subdivision of
the United States.
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