12 U.S. Code § 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.

Source

(June 26, 1934, ch. 750, title I, § 106, formerly § 6,48 Stat. 1218; Dec. 6, 1937, ch. 3, § 1,51 Stat. 4; 1947 Reorg. Plan No. 1, § 401, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 952; June 29, 1948, ch. 711, §§ 1, 2,62 Stat. 1091; renumbered § 7 and amended Pub. L. 86–354, § 1,Sept. 22, 1959, 73 Stat. 629; Pub. L. 91–206, § 2(1),Mar. 10, 1970, 84 Stat. 49; renumbered title I, § 106,Pub. L. 91–468, § 1(2),Oct. 19, 1970, 84 Stat. 994; amended Pub. L. 95–630, title V, § 508,Nov. 10, 1978, 92 Stat. 3683.)
Amendments

1978—Pub. L. 95–630substituted “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. 91–206substituted “Administrator” for “Director” in three places.
1959—Pub. L. 86–354provided 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. 95–630effective on expiration of 120 days after Nov. 10, 1978, and transitional provisions, see section 509 ofPub. 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.

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12 USCDescription of ChangeSession YearPublic LawStatutes at Large

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12 CFR - Banks and Banking

12 CFR Part 701 - ORGANIZATION AND OPERATION OF FEDERAL CREDIT UNIONS

12 CFR Part 705 - COMMUNITY DEVELOPMENT REVOLVING LOAN FUND ACCESS FOR CREDIT UNIONS

12 CFR Part 712 - CREDIT UNION SERVICE ORGANIZATIONS (CUSOs)

12 CFR Part 714 - LEASING

12 CFR Part 723 - MEMBER BUSINESS LOANS

12 CFR Part 742 - REGULATORY FLEXIBILITY PROGRAM

 

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