§ 107.450. Notification to SBA of pledge of Licensee's shares.
78 words·~1 min read·
/us/cfr/t13/s§ 107.450·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)You must notify SBA in writing, within 30 calendar days, of the terms of any transaction in which:
(1)Any Person, or group of Persons acting in concert, pledges shares of your stock (or equivalent ownership interests) as collateral for indebtedness; and
(2)The shares pledged are at least 10 percent of your Regulatory Capital.
(b)If the transaction creates a change of ownership or Control, you must comply with § 107.400 or § 107.410, as appropriate.