[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR101.12]

[Page 294]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 101_LOANS TO INDIANS FROM THE REVOLVING LOAN FUND--Table of Contents
 
Sec. 101.12  Records and reports.

    Loan agreements between the United States and tribes, corporations, 
partnerships, cooperative associations and individual Indians for 
financing economic enterprises, and to relending organizations, will 
require that borrowers establish and maintain accounting and operating 
records that are satisfactory to the Commissioner and submit written 
reports as required by the Commissioner. The records, accounts, and loan 
files shall be available for examination and audit by the Commissioner 
at any reasonable time. Unless an exception is approved by the 
Commissioner, borrowers will be required to have an annual audit made of 
the records of relending programs and economic enterprises financed with 
revolving loan funds, by a certified public accountant or a firm of 
certified public accountants or other qualified public accountants 
satisfactory to the Commissioner.