§ 108.507. Violations based on false filings and nonperformance of agreements with SBA.
85 words·~1 min read·
/us/cfr/t13/s§ 108.507·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following shall constitute a violation of this part:
(a)Nonperformance. Nonperformance of any of the requirements of any Debenture or of any written agreement with SBA.
(b)False statement. In any document submitted to SBA:
(1)Any false statement knowingly made; or
(2)Any misrepresentation of a material fact; or
(3)Any failure to state a material fact. A material fact is any fact that is necessary to make a statement not misleading in light of the circumstances under which the statement was made.