§ 107.20. Legal basis and applicability of this part 107.
75 words·~1 min read·
/us/cfr/t13/s§ 107.20·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The regulations in this part implement Title III of the Small Business Investment Act of 1958, as amended. All Licensees must comply with all applicable regulations, accounting guidelines and valuation guidelines for Licensees.
(b)Provisions of this part which are not mandated by the Act shall not supersede existing State law. A party claiming that a conflict exists shall submit an opinion of independent counsel, citing authorities, for SBA's resolution of the issues involved.