Us Code § 432 - Use, disposition, and auditing of funds

Full text of Us Code United States Code § 432 — Use, disposition, and auditing of funds, with citation guidance and answers to common questions.

§ 432. Use, disposition, and auditing of funds

(a) Use of Funds.—Funds generated by a commercial activity authorized pursuant to this subchapter may be used to offset necessary and reasonable expenses arising from that activity. Use of such funds for that purpose shall be kept to the minimum necessary to conduct the activity concerned in a secure manner. Any funds generated by the activity in excess of those required for that purpose shall be deposited, as often as may be practicable, into the Treasury as miscellaneous receipts.

(b) Audits.—(1) The Secretary of Defense shall assign an organization within the Department of Defense to have auditing responsibility with respect to activities authorized under this subchapter.

(2) That organization shall audit the use and disposition of funds generated by any commercial activity authorized under this subchapter not less often than annually. The results of all such audits shall be reported to the congressional defense committees and the congressional intelligence committees (as defined in section 437(c) of this title) by not later than December 31 of each year.

(Added Pub. L. 102–88, title V, §504(a)(2), Aug. 14, 1991, 105 Stat. 438; amended Pub. L. 113–66, div. A, title IX, §921(a), Dec. 26, 2013, 127 Stat. 827; Pub. L. 115–91, div. A, title XVI, §1623, Dec. 12, 2017, 131 Stat. 1732.)


Editorial Notes

Amendments

2017—Subsec. (b)(2). Pub. L. 115–91 struck out "promptly" before "reported" and inserted before period at end "by not later than December 31 of each year".

2013—Subsec. (b)(2). Pub. L. 113–66 substituted "the congressional defense committees and the congressional intelligence committees (as defined in section 437(c) of this title)." for "the intelligence committees (as defined in section 437(d) of this title)."

About This Section

10 U.S.C. § 432 is part of Title 10 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

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Frequently Asked Questions About Us Code § 432

What does United States Code § 432 cover?

Section 432 ("Use, disposition, and auditing of funds") is part of the United States Code, the codified statutory law of Us Code. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Us Code § 432?

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Is this the official text of Us Code law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Us Code official source linked on this page or consult a licensed Us Code attorney.

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