Sec. 102. Lender safe harbor
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/bill/116/s/4321/is/section-102A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(h)of section 1106 of the CARES Act ( 15 U.S.C. 9005 ) is amended to read as follows: A lender may rely on any certification or documentation submitted by an applicant for a covered loan or an eligible recipient of a covered loan that— is submitted pursuant to any statutory requirement relating to covered loans or any rule or guidance issued to carry out any action relating to covered loans; and attests that the applicant or eligible recipient, as applicable, has accurately verified any certification or documentation provided to the lender. With respect to a lender that relies on a certification or documentation described in paragraph (1)— an enforcement action may not be taken against the lender acting in good faith relating to origination or forgiveness of a covered loan based on such reliance; and the lender acting in good faith shall not be subject to any penalties relating to origination or forgiveness of a covered loan based on such reliance. .
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Sec. 102
Lender safe harbor
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