REPORTS AND AUDITS OF PARTICIPATING SURETIES.

SEC. 204. REPORTS AND AUDITS OF PARTICIPATING SURETIES. Section 411(g) of the Small Business Investment Act (15 U.S.C. 694b(g)) is amended to read as follows: “(g) (1) Each participating surety shall make reports to the Administration at such times and in such form as the Administration may require. “(2) The Administration may at all reasonable times audit, in the offices of a participating surety, all documents, files, books, records, and other material relevant to the Administration’s guarantee, commitments to guarantee, or agreements to indemnify any surety pursuant to this section. “(3) Each surety participating under the authority of paragraph (3) of subsection (a) shall be audited at least once each year by examiners selected and approved by the Administration.”.