About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

B-200951 1 (1982-10-13)

handle is hein.gao/gaobadsuk0001 and id is 1 raw text is: 133 UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, 134. 20548 oGENERAL COUNSEL October 13, 1982 B-200951 Mrs. Mary E. Anderson, Presidet Board of Directors -_ - Chatham park Village ioperative 737 East 83rd Place Chicago, Illinois 60619 Dear Mrs. Anderson: This is in response to your letter dated July 6, 1982, on behalf of the Board of Directors of the Chatham Park Village Cooperative requesting our opinion on whether or not an expenditure for fund raising donations is permissible from the loan moneys received from the National Consumer Cooperative Bank. As you requested in a telephone conversation with Alan Belkin of my staff on September 28, 1982, this letter confirms what you were advised at that time. The National Consumer Cooperative Bank was converted from a mixed ownership Government corporation to a Federally chartered private bank owned and controlled by its cooperative stockholders by the Omnibus Bud- get Reconciliation Act of 1981, Pub. L. No. 97-35, 95 Stat. 357, 433, August 13, 1981, 12 U.S.C. § 3001 et seq. See H.R. Rep. No. 97-208, 718 (1981). Vyhile the General Accounting Office and the Farm Credit Adminis- tration are authorized by section 115 of the National Consumer Coopera- .tive Bank Act, as amended, 12 U.S.C. § 3025, to examine and audit the Bank, it is not the 'function of our Office to review or resolve ques- tions involving matters of loan administration. Even when Federal agenc- ies or instrumentalities are concerned, we do not ordinarily rule on questions involving program administration unless we are requested to do so by the agency itself. For example, in B-205532, December 10, 1981 (copy enclosed), which involved a somewhat similar question concerning the loan programs administered by a Federal agency and instrumentality, we said the following: A Federal agency or instrumentality is generally accorded a wide degree of latitude and discretion in admin- istering the Government programs that are under its juris- diction. This is especially true with respect to decisions involving specific loans and loan applications. It is clearly not the function of our Office to review or pass on the manner in which a Federal agency or instrumentality exercises its discretion in an individual case either with respect to the handling and servicing of a loan or in deciding whether or not a loan application should be approved. ......................................... .....,...........

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most