Source: https://www.law.cornell.edu/uscode/text/12/5710
Timestamp: 2017-09-19 21:04:57
Document Index: 25129144

Matched Legal Cases: ['§ 5710', '§ 5710', '§ 5710', '§\u202f5710', '§\u202f3011', '§\u202f901']

12 U.S. Code § 5710 - Oversight and audits | US Law | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 54 › § 5710
12 U.S. Code § 5710 - Oversight and audits
§ 5710.
With respect to funds received by a participating State under the Program, any financial institution that receives a loan, a loan guarantee, or other financial assistance using such funds after September 27, 2010, shall certify that such institution is in compliance with the requirements of section 103.121 of title 31, Code of Federal Regulations, a regulation that, at a minimum, requires financial institutions, as that term is defined in section 5312(a)(2) and (c)(1)(A) of title 31, to implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable, maintain records of the information used to verify the person’s identity, and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the financial institution by any government agency.
(Pub. L. 111–240, title III, § 3011, Sept. 27, 2010, 124 Stat. 2581; Pub. L. 113–188, title IX, § 901(d), Nov. 26, 2014, 128 Stat. 2020.)
2014—Subsecs. (b) to (d). Pub. L. 113–188 redesignated subsecs. (c) and (d) as (b) and (c), respectively, and struck out former subsec. (b). Prior to amendment, text of subsec. (b) read as follows: “The Comptroller General of the United States shall perform an annual audit of the Program and issue a report to the appropriate committees of Congress containing the results of such audit.”