§ 120.857. Voluntary transfer and surrender of CDC certification.
80 words·~1 min read·
/us/cfr/t13/s§ 120.857·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A CDC may not transfer its certification or withdraw from the 504 program without SBA's consent. The CDC must provide a plan to SBA to transfer its portfolio. The portfolio may only be transferred with SBA's written consent. If a CDC desires to withdraw from the 504 program, it must forfeit its portfolio to SBA. SBA may conduct an audit of the transferring or withdrawing CDC. \[61 FR 3235, Jan. 31, 1996. Redesignated at 68 FR 57987, Oct. 7, 2003\]