12 U.S.C. § 1735f–16 — Annual audited financial statements
submitted 92 years ago by Pub. L. 101-235 to r/title-12-BANKS-AND-BANKING · 77 words · no verdicts yet
This section sets rules about Annual audited financial statements. It also states the conditions, exceptions, procedures, and definitions included in those rules.
about fiscal year 1989 and for every fiscal year thereafter, the Secretary must make available to the public a financial statement of the insurance funds established under this chapter that will present their financial condition on a cash and accrual basis, consistent with generally accepted accounting principles. Each financial statement must be audited by an independent accounting firm selected by the Secretary and the results of that audit must be made available to the public.
With respect to fiscal year 1989 and for every fiscal year thereafter, the Secretary shall make available to the public a financial statement of the insurance funds established under this chapter that will present their financial condition on a cash and accrual basis, consistent with generally accepted accounting principles. Each financial statement shall be audited by an independent accounting firm selected by the Secretary and the results of such audit shall be made available to the public.
Source credit: (June 27, 1934, ch. 847, title V, § 538, as added Pub. L. 101–235, title I, § 131, Dec. 15, 1989, 103 Stat. 2026.)
- 1934Enacted · Pub. L. 101-235 · 103 Stat. 2026
A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-235 on 1934-06-27.
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