§ 1756. — Reports and examinations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1756]
TITLE 12--BANKS AND BANKING
CHAPTER 14--FEDERAL CREDIT UNIONS
SUBCHAPTER I--GENERAL PROVISIONS
Sec. 1756. Reports and examinations
Federal credit unions shall be under the supervision of the Board,
and shall make financial reports to it as and when it may require, but
at least annually. Each Federal credit union shall be subject to
examination by, and for this purpose shall make its books and records
accessible to, any person designated by the Board.
(June 26, 1934, ch. 750, title I, Sec. 106, formerly Sec. 6, 48 Stat.
1218; Dec. 6, 1937, ch. 3, Sec. 1, 51 Stat. 4; 1947 Reorg. Plan No. 1,
Sec. 401, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 952; June 29, 1948,
ch. 711, Secs. 1, 2, 62 Stat. 1091; renumbered Sec. 7 and amended Pub.
L. 86-354, Sec. 1, Sept. 22, 1959, 73 Stat. 629; Pub. L. 91-206,
Sec. 2(1), Mar. 10, 1970, 84 Stat. 49; renumbered title I, Sec. 106,
Pub. L. 91-468, Sec. 1(2), Oct. 19, 1970, 84 Stat. 994; amended Pub. L.
95-630, title V, Sec. 508, Nov. 10, 1978, 92 Stat. 3683.)
Amendments
1978--Pub. L. 95-630 substituted ``Board'' for ``Administrator'' in
two places and ``reports to it as and when it'' for ``reports to him as
and when he'' and struck out provisions relating to the payment of an
examination fee by Federal credit unions and the deposit of such fee to
the credit of the special fund created by section 1755 of this title.
1970--Pub. L. 91-206 substituted ``Administrator'' for ``Director''
in three places.
1959--Pub. L. 86-354 provided for the making of reports to the
Director as and when he may require.
1937--Act Dec. 6, 1937, inserted ``giving due consideration to the
time and expense incident to such examinations, and to the ability of
Federal credit unions to pay such fees'' and struck out proviso relating
to conditions relieving certain unions from payment of examination fee.
Effective Date of 1978 Amendment
Amendment by Pub. L. 95-630 effective on expiration of 120 days
after Nov. 10, 1978, and transitional provisions, see section 509 of
Pub. L. 95-630, set out as a note under section 1752 of this title.
Transfer of Functions
Transfer of functions of Farm Credit Administration and Governor
thereof, generally, see notes set out under section 1751 of this title.
Functions of Governor of Farm Credit Administration under this
section transferred to Federal Deposit Insurance Corporation by Reorg.
Plan No. 1 of 1947.
Section Referred to in Other Sections
This section is referred to in sections 1766, 1772a, 1782 of this
title.
