Sec. 1681. SAFE HARBOR FOR GOOD FAITH COMPLIANCE EFFORTS
336 words·~2 min read·
/statute-compilations/comps-10359/sec-1681A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 1681 SAFE HARBOR FOR GOOD FAITH COMPLIANCE EFFORTS ###
(a)Small Business Fraud Section 16(d) of the Small Business Act (15 U.S.C. 645(d)) is amended by inserting after paragraph
(2)the following: > > #### “(3) Limitation on liability > > This subsection shall not apply to any conduct in violation of subsection
(a)if the defendant acted in good faith reliance on a written advisory opinion from a Small Business Development Center (as defined in this Act), or an entity participating in the Procurement Technical Assistance Cooperative Agreement Program defined in chapter 142 of title 10, United States Code; however nothing in this Act shall obligate either entity to provide such a letter nor shall the provision of such a letter in any way render the providing entity liable to the business concern should the Administrator later determine that the concern is not a small business concern. Upon issuance of an advisory opinion under this paragraph, the entity issuing the advisory opinion shall remit a copy of the opinion to the General Counsel of the Administration, who may reject the advisory opinion. If the General Counsel of the Administration rejects the advisory opinion, the Administration shall notify the entity issuing the advisory opinion and the recipient of the opinion, after which time the business concern may not rely upon the opinion.” > . ###
(b)Regulations **[**[15 U.S.C. 645 note](/us/usc/t15/s645)**]** Not later than 270 days after the date of enactment of this part, the Administrator of the Small Business Administration shall issue rules defining what constitutes an adequate advisory opinion for purposes of section 16(d)(3) of the Small Business Act. ###
(c)Small Business Compliance Guide **[**[15 U.S.C. 632 note](/us/usc/t15/s632)**]** Not later than 270 days after the date of enactment of this part, the Administrator of the Small Business Administration shall issue (pursuant to section 212 of the Small Business Regulatory Enforcement Fairness Act of 1996) a compliance guide to assist business concerns in accurately determining their status as a small business concern.
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources