Title 7, AgricultureRelease 119-73not60

§2009cc–11 Examinations

Title 7 › Chapter 50— AGRICULTURAL CREDIT › Subchapter VIII— RURAL BUSINESS INVESTMENT PROGRAM › § 2009cc–11

Last updated Apr 3, 2026|Official source

Summary

Each rural business investment company that takes part in the program under this subchapter must be examined when the Secretary orders it. The Secretary can hire a qualified private company to help with the exam. The Secretary can charge the company for the exam costs, including pay for the examiners, and the company must pay any charges. Money collected for exams goes back into the account that paid the costs. Those funds can be used by the Secretary to run these exams without any extra appropriation and stay available until spent.

Full Legal Text

Title 7, §2009cc–11

Agriculture, Source: USLM XML via OLRC

(a)Each rural business investment company that participates in the program established under this subchapter shall be subject to examinations made at the direction of the Secretary in accordance with this section.

(b)An examination under this section may be conducted with the assistance of a private sector entity that has the qualifications and the expertise necessary to conduct such an examination.

(c)(1)The Secretary may assess the cost of an examination under this section, including compensation of the examiners, against the rural business investment company examined.

(2)Any rural business investment company against which the Secretary assesses costs under this paragraph shall pay the costs.

(d)Funds collected under this section shall—

(1)be deposited in the account that incurred the costs for carrying out this section;

(2)be made available to the Secretary to carry out this section, without further appropriation; and

(3)remain available until expended.

Reference

Citations & Metadata

Citation

7 U.S.C. § 2009cc–11

Title 7, Agriculture

Last Updated

Apr 3, 2026

Release point: 119-73not60