§722 Records, Audit, and Examination

Summary

Recipients of financial help under this part, including loans and other arrangements, must keep the records the Association or the Secretary requires. Records must show how much money was given and how it was spent, and any other papers needed for a good audit. The Association, the Secretary, and the Comptroller General (or their authorized people) may inspect any books and records that seem related to the help until 3 years after the final system plan takes effect. The Association (and its reps) may keep inspecting records until the help under this part is repaid to the Association. They can look at materials about the recipient’s ability to repay, how well the money was used, and how the final system plan and policy goals are being carried out.