Page:United States Statutes at Large Volume 115 Part 1.djvu/908

 115 STAT. 886 PUBLIC LAW 107-90—DEC. 21, 2001 or other company or through any agent or broker in whose business operations such person has any control or significant financial interest, direct or indirect. "(E) AUDIT AND REPORT. — "(i) The Trust shall annually engage an independent qualified public accountant to audit the financial statements of the Trust. Deadline. "(ii) The Trust shall submit an annual management report to the Congress not later than 180 days after the end of the Trust's fiscal year. A management report under this subsection shall include— "(I) a statement of financial position; "(II) a statement of operations; "(III) a statement of cash flows; "(IV) a statement on internal accounting and administrative control systems; "(V) the report resulting from an audit of the financial statements of the Trust conducted under clause (i); and "(VI) any other comments and information necessary to inform the Congress about the operations and financial condition of the Trust, "(iii) The Trust shall provide the President, the Railroad Retirement Board, and the Director of the Office of Management and Budget a copy of the management report when it is submitted to Congress. "(F) ENFORCEMENT. — The Railroad Retirement Board may bring a civil action— "(i) to enjoin any act or practice by the Trust, its Board of Trustees, or its employees or agents that violates any provision of this Act; or "(ii) to obtain other appropriate relief to redress such violations, or to enforce any provisions of this Act. "(6) RULES AND ADMINISTRATIVE POWERS. —The Board of Trustees shall have the authority to make rules to govern its operations, employ professional staff, and contract with outside advisers, including the Railroad Retirement Board, to provide legal, accounting, investment advisory, or other services necessary for the proper administration of this subsection. In the case of contracts with investment advisory services, compensation for such services may be on a fixed contract fee basis or on such other terms and conditions as are customary for such services. "(7) QUORUM. — F ive members of the Board of Trustees constitute a quorum to do business. Investment guidelines must be adopted by a unanimous vote of the entire Board of Trustees. All other decisions of the Board of Trustees shall be decided by a majority vote of the quorum present. All decisions of the Board of Trustees shall be entered upon the records of the Board of Trustees. "(8) FUNDING. —The expenses of the Trust and the Board of Trustees incurred under this subsection shall be paid from the Trust.". (b) CONFORMING AND TECHNICAL AMENDMENTS GOVERNING INVESTMENTS. —Section 15(e) of the Railroad Retirement Act of 1974 (45 U.S.C. 231n(e)) is amended—

�