§583j–5. Audits and report requirements

(a) Audits

For purposes of the Act entitled "An Act for audit of accounts of private corporations established under Federal law," approved August 30, 1964 (36 U.S.C. 1101 through 1103; Public Law 88–504) the Foundation shall be treated as a private corporation established under Federal law.

(b) Annual reports

The Foundation shall,¹ transmit each year to Congress a report of its proceedings and activities of the previous year, including a full and complete statement of its receipts, expenditures, and investments.

( Pub. L. 101–593, title IV, §407, Nov. 16, 1990, 104 Stat. 2973 .)

References in Text

The Act entitled "An Act for audit of accounts of private corporations established under Federal law," approved August 30, 1964, referred to in subsec. (a), is Pub. L. 88–504, Aug. 30, 1964, 78 Stat. 635 , as amended, which is classified principally to chapter 42 (§1101 et seq.) of Title 36, Patriotic Societies and Observances. For complete classification of this Act to the Code, see Tables.

¹ So in original. The comma probably should not appear.