republic-os/legal/us/code/title-07/chapter-36/section-1513.md

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LegalText	7 U.S.C. § 1513	Books of account and annual reports of Corporation	us	united_states_code	code_section	7	AGRICULTURE	36	CROP INSURANCE	1513	7 U.S.C. § 1513	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc07@119-100.zip	/us/usc/t7/s1513	data/legal/raw/us/code/title-07/usc07.xml	2067b774ced41b9ef59d38e16bcfc349b4c03ff6deb4132d8d130e6c3575152d	50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984	3788aade77bc66e9561adfd02197a49c2f2fc229fc68f86a5d465b2219e44daa	2026-07-04	official	legal us-code

7 U.S.C. § 1513 - Books of account and annual reports of Corporation

Text

The Corporation shall at all times maintain complete and accurate books of accounts and shall file annually with the Secretary a complete report as to the business of the Corporation.

(Feb. 16, 1938, ch. 30, title V, § 513, 52 Stat. 76; Pub. L. 93–604, title VI, § 603, Jan. 2, 1975, 88 Stat. 1963; Pub. L. 103–354, title I, § 102(b)(4)(C), Oct. 13, 1994, 108 Stat. 3181.)

Notes

Editorial Notes

Amendments1994—Pub. L. 103–354 substituted “Secretary” for “Secretary of Agriculture”. 1975—Pub. L. 93–604 struck out provisions that financial transactions of Corporation shall be audited at least once each year by the General Accounting Office for the sole purpose of making a report to Congress, together with such recommendations as the Comptroller General of the United States may deem advisable and the proviso that such report shall not be made until the Corporation shall have had reasonable opportunity to examine the exceptions and criticisms of the Comptroller General or the General Accounting Office, to point out errors therein, explain or answer the same, and to file a statement which shall be submitted by Comptroller General with his report.

Statutory Notes and Related Subsidiaries

Effective Date of 1994 AmendmentAmendment by Pub. L. 103–354 effective Oct. 13, 1994, and applicable to provision of crop insurance under Federal Crop Insurance Act (7 U.S.C. 1501 et seq.) beginning with 1995 crop year, with such Act, as in effect on the day before Oct. 13, 1994, to continue to apply with respect to 1994 crop year, see section 120 of Pub. L. 103–354, set out as a note under section 1502 of this title.

Audit of Government CorporationsSection 9105(f) of Title 31, Money and Finance, provides that an audit under subsection (a) of that section is in place of an audit of the financial transactions of a Government corporation the Comptroller General is required to make in reporting to Congress or the President under another law.

Executive Documents

Transfer of Functions Administration of program of Federal Crop Insurance Corporation transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3, § 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100. See note set out under section 1503 of this title. Wartime consolidation of Federal Insurance Corporation into Agricultural Conservation and Adjustment Administration, see note set out under section 1503 of this title.