Recordkeeping
Each recipient of adjustment assistance under this part shall keep records which fully disclose the amount and disposition by such recipient of the proceeds, if any, of such adjustment assistance, and which will facilitate an effective audit. The recipient shall also keep such other records as the Secretary may prescribe.
Audit and examination
The Secretary and the Comptroller General of the United States shall have access for the purpose of audit and examination to any books, documents, papers, and records of the recipient pertaining to adjustment assistance under this part.
Certifications
Conflicts of interest
No financial assistance shall be provided to any firm under this part unless the owners, partners, or officers shall execute an agreement binding them and the firm for a period of 2 years after such financial assistance is provided, to refrain from employing, tendering any office or employment to, or retaining for professional services any person who, on the date such assistance or any part thereof was provided, or within 1 year prior thereto, shall have served as an officer, attorney, agent, or employee occupying a position or engaging in activities which the Secretary shall have determined involve discretion with respect to the provision of such financial assistance.
Pub. L. 93–618, title II, § 25888 Stat. 2033Pub. L. 111–5, div. B, title I, § 1864(a)(2)123 Stat. 397Pub. L. 112–40, title II, § 201(b)125 Stat. 403Pub. L. 114–27, title IV, § 402(b)129 Stat. 374(, , ; temporarily renumbered § 256 and amended , (c)(1), , , 398; , (c), , ; , (c), , .)
Termination of Assistance
For termination of assistance under this part after , see Termination Date note below.
Editorial Notes
Codification
Section reflects the , reversion to provisions in effect on . See Effective and Termination Dates of 2015 Revival note below.
Section 233 of Pub. L. 112–40Pub. L. 114–27, title IV, § 402(a)129 Stat. 374Pub. L. 114–27, which provided for the , revival of this section as in effect on , was repealed by , , , and the provisions of this section, as in effect on , were temporarily revived, effective , until , by , §§ 402(b), (c), 406. See 2011 and 2015 Amendment notes, Effective and Termination Dates of 2011 Revival notes, and Effective and Termination Dates of 2015 Revival notes below.
Section 1893 of Pub. L. 111–5Pub. L. 111–5Pub. L. 112–40, title II, § 201(a)125 Stat. 403Pub. L. 111–5Pub. L. 112–40, which provided for , termination of amendment by , was repealed by , , , and the provisions of this section, as amended by and as in effect on , were temporarily revived, effective , until , by , §§ 201(b), (c), 233. See 2009 and 2011 Amendment notes, Effective and Termination Dates of 2009 Amendment notes, and Effective and Termination Dates of 2011 Revival notes below.
Amendments
Pub. L. 114–272015—, §§ 402(b), (c), 406, temporarily revived the provisions of this section, as in effect on . See Codification note above and 2011 Amendment and Effective and Termination Dates of 2015 Revival notes below.
Pub. L. 112–402011—, §§ 201(b), (c), 233, temporarily revived the provisions of this section, as in effect on . See Codification note above and 2009 Amendment and Effective and Termination Dates of 2011 Revival notes below.
Pub. L. 111–52009—Subsec. (d). , §§ 1864(c)(1), 1893, temporarily struck out subsec. (d). Text read as follows: “No financial assistance shall be provided to any firm under this part unless the owners, partners, or officers shall execute an agreement binding them and the firm for a period of 2 years after such financial assistance is provided, to refrain from employing, tendering any office or employment to, or retaining for professional services any person who, on the date such assistance or any part thereof was provided, or within 1 year prior thereto, shall have served as an officer, attorney, agent, or employee occupying a position or engaging in activities which the Secretary shall have determined involve discretion with respect to the provision of such financial assistance.” See Codification note above and Effective and Termination Dates of 2009 Amendment note below.
Statutory Notes and Related Subsidiaries
Effective and Termination Dates of 2015 Revival
Pub. L. 114–27section 2271 of this titleFor revival and applicability, beginning on , of the provisions of this section as in effect on , see section 402(b), (c) of , set out as a note preceding .
section 406(b) of Pub. L. 114–27section 406 of Pub. L. 114–27section 2271 of this titleFor reversion, beginning on , to the provisions of this section as in effect on , with certain exceptions and subject to , see , set out as a note preceding .
Effective and Termination Dates of 2011 Revival
Pub. L. 112–40section 2271 of this titleFor revival and applicability, beginning on , of the provisions of this section as in effect on , see section 201(b), (c) of , set out as a note preceding .
Section 233 of Pub. L. 112–40section 2271 of this titlePub. L. 114–27, title IV, § 402(a)129 Stat. 374, formerly set out as a note preceding , which provided for the reversion, beginning on , of the provisions of this section to those in effect on , subject to certain exceptions, was repealed by , , , effective . See Codification note above.
Effective and Termination Dates of 2009 Amendment
Pub. L. 111–5section 1864(e) of Pub. L. 111–5section 2344 of this titleAmendment by effective upon the expiration of the 90-day period beginning on , see , set out as an Effective and Termination Dates note under .
Pub. L. 111–5section 1891 of Pub. L. 111–5section 2271 of this titleExcept as otherwise provided and subject to certain applicability provisions, amendment by effective upon the expiration of the 90-day period beginning on , see , set out as a note under .
Section 1893 of Pub. L. 111–5section 2271 of this titlePub. L. 111–5Pub. L. 111–5Pub. L. 112–40, title II, § 201(a)125 Stat. 403, formerly set out as a Termination Date of 2009 Amendment note preceding , which provided that, except as otherwise provided, amendment by not applicable on or after , and that this section be applied and administered beginning , as if amendment by had never been enacted, was repealed by , , , effective . See Codification note above.
Termination Date
section 285 of Pub. L. 93–618section 406(a)(7) of Pub. L. 114–27section 2271 of this titleExcept as otherwise provided, technical assistance and grants may not be provided under this part after , see , as modified by , set out as notes preceding .