12 USC § 1747e - Financial statements by Secretary

---
identifier: "/us/usc/t12/s1747e"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 1747e - Financial statements by Secretary"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "1747e"
section_name: "Financial statements by Secretary"
chapter_number: 13
chapter_name: "NATIONAL HOUSING"
subchapter_number: "VII"
subchapter_name: "INSURANCE FOR INVESTMENTS IN RENTAL HOUSING FOR FAMILIES OF MODERATE INCOME"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(June 27, 1934, ch. 847, title VII, § 706, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1278; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)"
---


# § 1747e. Financial statements by Secretary

With respect to each project insured under this subchapter, the Secretary shall provide that, after the close of each operating year, the investor shall submit to him for approval a financial and operating statement covering such operating year. If any such financial and operating statement shall not have been submitted or, for proper cause, shall not have been approved by the Secretary, payment of any claim submitted by the investor may, at the option of the Secretary, be withheld, in whole or in part, until such statement shall have been submitted and approved.

---

**Source Credit**: (June 27, 1934, ch. 847, title VII, § 706, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1278; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)

## Editorial Notes

### Amendments

1967— substituted “Secretary” for “Commissioner” wherever appearing.

1950—Act , substituted “Commissioner” for “Administrator” wherever appearing.