§ 3025. Examination and audit

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1978

   National Consumer Cooperative Bank Act

   Pub. L. 95–351 title I § 115 · 92 Stat. 499

   Enacted · 12 U.S.C. § 3025

   Pub. L. 95–351, title I, § 115, Aug. 20, 1978, 92 Stat. 511

   Source evidence

   Code source credit
   Pub. L. 95–351, title I, § 115, Aug. 20, 1978, 92 Stat. 511

   Enacted provision · exact public law section
   Sec. 115. examination and audit Until the stock of the Bank held by the United States has 12 USC 3025. been fully retired, the operations of the Bank shall be examined annually under the direction of an agency or instrumentality of the Federal Government designated by the President, including the General Accounting Office, and reports of such examination shall be forwarded to the Congress. The President shall, no later than the date Office of Supervision and Audit. Presidential report to Congress. that 66⅔ per centum of the class A stock is held by others than the Secretary of the Treasury, establish an Office of Supervision and Audit which shall be responsible for audits and examinations of the Bank, shall assure that the objectives of this title are carried out, and shall review and comment on the bylaws of the Bank and the general policies of the Bank and shall make an annual report to the Congress.

2. 1981

   Pub. L. 97–35 title III § 394(a)(1) · 95 Stat. 357

   Substituted · 12 U.S.C. § 3025

   Pub. L. 97–35 substituted provisions relating to examination and audit by the Farm Credit Administration and the General Accounting Office, for provisions relating to annual examinations and audits by an agency or instrumentality of the Federal Government designated by the President

   Source evidence

   Code amendment note
   Pub. L. 97–35 substituted provisions relating to examination and audit by the Farm Credit Administration and the General Accounting Office, for provisions relating to annual examinations and audits by an agency or instrumentality of the Federal Government designated by the President.

   Enacted provision · exact public law section
   (1) Section 115 of the National Consumer Cooperative Bank Act (12 U.S.C. 3025) is amended to read as follows: “Sec. 115. “examination and audit The Farm Credit Administration and the General Accounting Office are hereby authorized and directed to examine and Reports to Congress. audit the Bank. Reports regarding such examinations and audits shall be promptly forwarded to both Houses of the Congress. The Bank shall reimburse the Farm Credit Administration for the costs of any examination or audit conducted by the Farm Credit Administration.”.

   Effective date note
   Pub. L. 97–35, title III, § 394(a)(2), Aug. 13, 1981, 95 Stat. 436, provided that: “The amendment made by paragraph (1) [amending this section] shall take effect on the day after the Final Government Equity Redemption Date [Dec. 31, 1981].” For definition of “Final Government Equity Redemption Date”, see section 396(a) of Pub. L. 97–35, set out as a note under section 3012 of this title.

3. 2004

   GAO Human Capital Reform Act of 2004

   Pub. L. 108–271 § 8(b) · 118 Stat. 811

   Substituted · 12 U.S.C. § 3025

   Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”

   Source evidence

   Code amendment note
   Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

   Enacted provision · exact public law section
   (b) References.— Any reference to the General Accounting Office in any law, rule, regulation, certificate, directive, instruction, or other official paper in force on the date of enactment of this Act shall be considered to refer and apply to the Government Accountability Office.

3 of 3 references resolved to an enrolled provision