§ 1513. — Books of account and annual reports of Corporation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC1513]
TITLE 7--AGRICULTURE
CHAPTER 36--CROP INSURANCE
Sec. 1513. Books of account and annual reports of Corporation
The Corporation shall at all times maintain complete and accurate
books of accounts and shall file annually with the Secretary a complete
report as to the business of the Corporation.
(Feb. 16, 1938, ch. 30, title V, Sec. 513, 52 Stat. 76; Pub. L. 93-604,
title VI, Sec. 603, Jan. 2, 1975, 88 Stat. 1963; Pub. L. 103-354, title
I, Sec. 102(b)(4)(C), Oct. 13, 1994, 108 Stat. 3181.)
Amendments
1994--Pub. L. 103-354 substituted ``Secretary'' for ``Secretary of
Agriculture''.
1975--Pub. L. 93-604 struck out provisions that financial
transactions of Corporation shall be audited at least once each year by
the General Accounting Office for the sole purpose of making a report to
Congress, together with such recommendations as the Comptroller General
of the United States may deem advisable and the proviso that such report
shall not be made until the Corporation shall have had reasonable
opportunity to examine the exceptions and criticisms of the Comptroller
General or the General Accounting Office, to point out errors therein,
explain or answer the same, and to file a statement which shall be
submitted by Comptroller General with his report.
Effective Date of 1994 Amendment
Amendment by Pub. L. 103-354 effective Oct. 13, 1994, and applicable
to provision of crop insurance under Federal Crop Insurance Act (7
U.S.C. 1501 et seq.) beginning with 1995 crop year, with such Act, as in
effect on the day before Oct. 13, 1994, to continue to apply with
respect to 1994 crop year, see section 120 of Pub. L. 103-354, set out
as a note under section 1502 of this title.
Transfer of Functions
Administration of program of Federal Crop Insurance Corporation
transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3,
Sec. 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100. See note set
out under section 1503 of this title.
Wartime consolidation of Federal Insurance Corporation into
Agricultural Conservation and Adjustment Administration, see note set
out under section 1503 of this title.
Audit of Government Corporations
Section 9105(f) of Title 31, Money and Finance, provides that an
audit under subsection (a) of that section is in place of an audit of
the financial transactions of a Government corporation the Comptroller
General is required to make in reporting to Congress or the President
under another law.
