Disposition of assets.
Section 11
SEC. 11. Disposition of assets.—The Land Bank shall, under the rules and regulations it shall promulgate, transfer, lease or otherwise dispose of the transferred real properties. In order to achieve the maximum utilization of these assets in the accomplishment of its objectives, the Land Bank may classify, develop, and subdivide the transferred real properties, dispose of them for cash or Land Bank bonds, or enter into joint ventures: Provided, That priority shall be given to the Government Service Insurance System, the Social Security System, and any other financially capable government corporations in the disposition of these properties. Valuations of government lands under bidding shall be subject to General Auditing Office rules and regulations. Within thirty days from the date of the opening of the regular session of Congress, the Land Bank shall submit an annual report to all the Members of Congress, through the Presiding Officers of both Houses, on the disposition of the assets herein acquired. All records in connection with such disposition shall be open to scrutiny upon request of the Joint Committee, the provision of any law, executive order, rule or regulation to the contrary notwithstanding.