[USC02] 20 USC 130aa-4: Enforcement
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TEXT OF PART V OF SUBTITLE A (3001 ET SEQ.), EFFECTIVE JANUARY 1, 2022, CURRENTLY SET OUT AS A PREVIEW

20 USC 130aa-4: Enforcement Text contains those laws in effect on June 15, 2021
From Title 20-EDUCATIONCHAPTER 8-HOWARD UNIVERSITYSUBCHAPTER II-ENDOWMENT

§130aa–4. Enforcement

(a) After notice and an opportunity for a hearing, the Secretary is authorized to terminate and recover any grant awarded under this subchapter if the University-

(1) withdraws or expends any endowment fund corpus, or any endowment fund income in excess of the amount authorized by section 130aa–3 of this title;

(2) fails to invest its endowment fund corpus or income in accordance with the investment standards set forth in section 130aa–2 of this title; or

(3) fails to account properly to the Secretary concerning investments and expenditures of its endowment fund corpus or income.


(b) If the Secretary terminates a grant under subsection (a), the University shall return to the Treasury of the United States an amount equal to the sum of the original grant or grants under this subchapter 1 plus any income earned thereon. The Secretary may direct the University to take such other appropriate measures to remedy any violation of this subchapter and to protect the financial interest of the United States.

( Pub. L. 98–480, title II, §206, Oct. 17, 1984, 98 Stat. 2247 .)

Codification

This subchapter, the first time it appears in subsec. (b), was in the original "this Act" which was translated as reading "this title", meaning title II of Pub. L. 98–480, Oct. 17, 1984, 98 Stat. 2236 , as the probable intent of Congress.

1 See Codification note below.