Title 12 — Banks and BankingRelease 119-73not60
§3025 Examination and Audit
Title 12 › Chapter 31— NATIONAL CONSUMER COOPERATIVE BANK › Subchapter I— ESTABLISHMENT AND OPERATION › § 3025
Summary
The Farm Credit Administration and the Government Accountability Office must examine and audit the Bank and quickly send their reports to both the House of Representatives and the Senate. The Bank must repay the Farm Credit Administration for the costs of any exam or audit the FCA does.
Full Legal Text
Title 12, §3025
Banks and Banking — Source: USLM XML via OLRC
The Farm Credit Administration and the Government Accountability Office are hereby authorized and directed to examine and 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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2004—Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”. 1981—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.
Statutory Notes and Related Subsidiaries
Effective Date
of 1981 Amendment 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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 3025
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60