Laws: Cases and Codes : U.S. Code : Title 15
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U.S. Code as of:
01/19/04
Chapter 14B - Notes
SUBCHAPTER I - GENERAL PROVISIONS
Sec.
661. Congressional declaration of policy.
662. Definitions.
SUBCHAPTER II - SMALL BUSINESS INVESTMENT DIVISION OF SMALL
BUSINESS ADMINISTRATION
671. Establishment; Associate Administrator; appointment
and compensation.
672. Repealed.
SUBCHAPTER III - INVESTMENT DIVISION PROGRAMS
PART A - SMALL BUSINESS INVESTMENT COMPANIES
681. Organization.
(a) Incorporation and charter under State law,
period of succession; area of operations.
(b) Articles of incorporation; approval.
(c) Issuance of license.
(e) Fees.
682. Capital requirements.
(a) Amount.
(b) Financial institution investments.
(c) Diversification of ownership.
683. Borrowing operations.
(a) Authority to issue obligations.
(b) Debentures and participating securities.
(c) Third party debt.
(d) Required certifications.
(e) Capital impairment.
(f) Redemption or repurchase of preferred stock.
(g) Guarantee of payment of and authority to
purchase participating securities.
(h) Computation of amounts due under participating
securities.
(i) Leverage fee.
(j) Calculation of subsidy rate.
684. Equity capital for small-business concerns.
(a) Function of investment companies.
(b) Conditions.
(c) Repealed.
(d) Direct or cooperative provision of capital.
685. Long-term loans to small-business concerns.
(a) Authorization.
(b) Direct loans; loans on participation basis.
(c) Maximum rate of interest.
(d) Maturity.
(e) Soundness of loan; security.
(f) Extension or renewal.
686. Aggregate limitations on amount of assistance to any
single enterprise.
(a) Percentage limitation of private capital.
(b) Repealed.
(c) Application of provisions to commitments
incurred prior to effective date of section.
687. Operation and regulation of companies.
(a) Cooperation with banks and other financial
institutions.
(b) Use of advisory services; depository or fiscal
agents; investment of funds.
(c) Rules and regulations.
(d) Forfeiture of rights, privileges, and
franchises; jurisdiction.
(e) Liability of United States.
(f) Performance of functions, powers, and duties by
Administration and Administrator.
(g) Annual report on Small Business Investment
activities.
(h) Certifications of eligibility.
(i) Interest rates.
687a. Revocation and suspension of licenses; cease and
desist orders.
(a) Grounds for suspension or revocation.
(b) Grounds for cease and desist order.
(c) Order to show cause; contents; hearing;
issuance and service.
(d) Subpena of person, and books, papers and
documents; fees and mileage; enforcement.
(e) Petition to modify or set aside order; filing,
time and place, Administration to submit
record; action of court; review.
(f) Enforcement of order.
687b. Investigations and examinations; power to subpena and
take oaths and affirmations; aid of courts;
examiners; reports.
(a) Investigation of violations.
(b) Examinations and reports.
(c) Examinations of small business investment
companies.
(d) Valuations.
687c. Injunctions and other orders.
(a) Grounds; jurisdiction of court.
(b) Equity jurisdiction of licensee and assets
thereof.
(c) Trusteeship or receivership over licensee.
687d. Conflicts of interest.
687e. Removal or suspension of management officials.
(a) Definition of "management official".
(b) Removal of management officials.
(c) Authority to suspend or prohibit participation.
(d) Authority to suspend on criminal charges.
(e) Notification to licensees.
(f) Procedural provisions; judicial review.
687f. Unlawful acts and omissions by officers, directors,
employees, or agents.
(a) Violation by licensee deemed violation by
persons participating.
(b) Breach of fiduciary duty.
(c) Disqualification of officers and employees for
dishonesty, fraud, or breach of trust.
687g. Penalties and forfeitures.
(a) Report violations.
(b) Exemption from reporting requirements.
687h. Jurisdiction and service of process.
687i, 687j. Repealed.
687k. Guaranteed obligations not eligible for purchase by
Federal Financing Bank.
687l. Issuance and guarantee of trust certificates.
(a) Issuance; debentures or participating
securities composing trust or pool.
(b) Terms and conditions of guarantee; payment of
principal and interest.
(c) Full faith and credit of United States.
(d) Collection of fees.
(e) Subrogation rights; ownership rights in
debentures or participating securities.
(f) Central registration requirements; regulation
of brokers and dealers.
687m. Periodic issuance of guarantees and trust
certificates.
688. Repealed.
PART B - NEW MARKETS VENTURE CAPITAL PROGRAM
689. Definitions.
689a. Purposes.
689b. Establishment.
689c. Selection of New Markets Venture Capital companies.
(a) Eligibility.
(b) Application.
(c) Conditional approval.
(d) Requirements to be met for final approval.
(e) Final approval; designation.
689d. Debentures.
(a) In general.
(b) Terms and conditions.
(c) Full faith and credit of the United States.
(d) Maximum guarantee.
689e. Issuance and guarantee of trust certificates.
(a) Issuance.
(b) Guarantee.
(c) Full faith and credit of the United States.
(d) Fees.
(e) Subrogation and ownership rights.
(f) Management and administration.
689f. Fees.
689g. Operational assistance grants.
(a) In general.
(b) Supplemental grants.
(c) Limitation.
689h. Bank participation.
(a) In general.
(b) Limitation.
689i. Federal Financing Bank.
689j. Reporting requirement.
689k. Examinations.
(a) In general.
(b) Assistance of private sector entities.
(c) Costs.
(d) Deposit of funds.
689l. Injunctions and other orders.
(a) In general.
(b) Jurisdiction.
(c) Administrator as trustee or receiver.
689m. Additional penalties for noncompliance.
(a) In general.
(b) Adjudication of noncompliance.
689n. Unlawful acts and omissions; breach of fiduciary duty.
(a) Parties deemed to commit a violation.
(b) Fiduciary duties.
(c) Unlawful acts.
689o. Removal or suspension of directors or officers.
689p. Regulations.
689q. Authorization of appropriations.
(a) In general.
(b) Funds collected for examinations.
SUBCHAPTER IV - STATE CHARTERED INVESTMENT COMPANIES AND STATE
DEVELOPMENT COMPANIES
691. Repealed.
SUBCHAPTER IV-A - GUARANTEES
PART A - COMMERCIAL OR INDUSTRIAL LEASE AND QUALIFIED CONTRACT
GUARANTEES
692. Authority of Administration to guarantee payment of
rentals by small business concerns under leases of
commercial and industrial property.
(a) Nonavailability of guarantees from other
sources; participation with qualified
sureties.
(b) Uniform annual fee; processing fees.
(c) Escrow; default; additional discretionary
provisions.
693. Powers of Administration respecting loans; liquidation
of obligations through creation of new leases,
execution of subleases, and assignments of leases.
694. Repealed.
694-1. Planning design or installation of pollution control
facilities.
(a) Definitions.
(b) Financing disadvantage; guarantee of payment by
Administration; restrictions and limitations.
(c) Uniform annual fees; processing fees; time and
condition for payment; periodic review.
(d) Requirements of Administration; escrow;
default; discretionary provisions.
(e) Assignment of guarantee.
(f) Application of section 693 of this title.
694-2. Revolving fund for qualified contract guarantees;
investment of idle funds.
PART B - SURETY BOND GUARANTEES
694a. Definitions.
694b. Surety bond guarantees.
(a) Authority of Administration to guarantee surety
against loss from principal's breach of bond.
(b) Indemnification of surety against loss from
avoiding breach.
(c) Limitation of liability.
(d) Regulations.
(e) Reimbursement of surety; conditions.
(f) Procedure for reimbursement.
(g) Audit.
(h) Administrative provisions.
(i) Powers of Administration respecting loans.
694c. Revolving fund for surety bond guarantees.
SUBCHAPTER V - LOANS TO STATE AND LOCAL DEVELOPMENT COMPANIES
695. State development companies.
(a) Congressional finding and declaration of
purpose.
(b) Loans; obligations of development companies.
(c) Maximum loans to development companies.
(d) Eligibility for assistance.
696. Loans for plant acquisition, construction, conversion
and expansion.
697. Development company debentures.
(a) Guarantees; Administration authority;
regulatory terms and conditions; full faith
and credit; subordination of debentures.
(b) Statutory terms and conditions.
(c) Commercial loan interest rate.
(d) Charges for Administration expenses.
(e) "Qualified State or local development company"
defined; exception for rural company;
authority.
(f) Effective date.
(g) Calculation of subsidy rate.
(h) Required actions upon default.
(i) Two-year waiver of fees.
697a. Private debenture sales.
697b. Pooling of debentures.
(a) Issuance; debentures composing trust or pool.
(b) Terms and conditions of guarantee; payment of
principal and interest.
(c) Full faith and credit of United States.
(d) Collection of fees.
(e) Subrogation rights; ownership rights in
debentures.
(f) Central registration requirements; regulation
of brokers and dealers; electronic
registration.
697c. Restrictions on development company assistance.
697d. Accredited Lenders Program.
(a) Establishment.
(b) Requirements.
(c) Expedited processing of loan applications.
(d) Suspension or revocation of designation.
(e) "Qualified State or local development company"
defined.
697e. Premier Certified Lenders Program.
(a) Establishment.
(b) Requirements.
(c) Loss reserve.
(d) Sale of certain defaulted loans.
(e) Loan approval authority.
(f) Review.
(g) Suspension or revocation.
(h) Effect of suspension or revocation.
(i) Program goals.
(j) Report.
697f. Prepayment of development company debentures.
(a) In general.
(b) Requirements.
(c) No prepayment fees or penalties.
(d) Refinancing limitations.
(e) Definitions.
(f) Regulations.
(g) Authorization.
697g. Foreclosure and liquidation of loans.
(a) Delegation of authority.
(b) Eligibility for delegation.
(c) Scope of delegated authority.
(d) Suspension or revocation of authority.
(e) Report.
-SECREF-
CHAPTER REFERRED TO IN OTHER SECTIONS
This chapter is referred to in sections 77c, 77ddd, 80a-2,
80a-18, 80a-60, 634, 637, 645, 1691c of this title; title 12
section 4702; title 26 sections 243, 246A, 542, 586, 1242, 1243.
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