Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
54 lines
3.2 KiB
Markdown
54 lines
3.2 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 635a–6"
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description: "Periodic audits of bank transactions"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "6A"
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chapter_name: "EXPORT-IMPORT BANK OF THE UNITED STATES"
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section: "635a–6"
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citation: "12 U.S.C. § 635a–6"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s635a–6"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "d9f68955d3857b3c4234504304ce040bddb0d50c2807974c6bbb375e77639924"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "34d5d4b1237ba40290a104bc6d232bf5e5129cfd0e7d160752388be26f7bdb5b"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 635a–6 - Periodic audits of bank transactions
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## Text
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(a) In general Within 2 years after May 30, 2012, and periodically (but not less frequently than every 4 years) thereafter, the Comptroller General of the United States shall conduct an audit of the loan and guarantee transactions of the Export-Import Bank of the United States to determine the compliance of the Bank with the underwriting guidelines, lending policies, due diligence procedures, and content guidelines of the Bank.
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(b) Review of fraud controls Not later than 4 years after December 4, 2015, and every 4 years thereafter, the Comptroller General of the United States shall—
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(1) review the adequacy of the design and effectiveness of the controls used by the Export-Import Bank of the United States to prevent, detect, and investigate fraudulent applications for loans and guarantees and the compliance by the Bank with the controls, including by auditing a sample of Bank transactions; and
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(2) submit a written report regarding the findings of the review and providing such recommendations with respect to the controls described in paragraph (1) as the Comptroller General deems appropriate to—
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(A) the Committee on Banking, Housing, and Urban Affairs and the Committee on Appropriations of the Senate; and
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(B) the Committee on Financial Services and the Committee on Appropriations of the House of Representatives.
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(Pub. L. 112–122, § 17, May 30, 2012, 126 Stat. 359; Pub. L. 114–94, div. E, title LI, § 51003, Dec. 4, 2015, 129 Stat. 1763.)
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## Notes
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Editorial Notes
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Codification Section was enacted as part of the Export-Import Bank Reauthorization Act of 2012, and not as part of the Export-Import Bank Act of 1945 which comprises this subchapter.
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Amendments2015—Subsec. (b). Pub. L. 114–94 amended subsec. (b) generally. Prior to amendment, text read as follows: “The Comptroller General of the United States shall review the adequacy of the design and effectiveness of the controls used by the Export-Import Bank of the United States to prevent, detect, and investigate fraudulent applications for loans and guarantees, including by auditing a sample of Bank transactions, and submit to the Congress a written report which contains such recommendations with respect to the controls as the Comptroller General deems appropriate.”
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