§ 2009cc–13. Additional penalties for noncompliance
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/usc/title-7/section-2009cc-13A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
With respect to any rural business investment company that violates or fails to comply with this subchapter (including any rule, regulation, order, or participation agreement under this subchapter), the Secretary may, in accordance with this section— void the participation agreement between the Secretary and the rural business investment company; and cause the rural business investment company to forfeit all of the rights and privileges derived by the rural business investment company under this subchapter.
Before the Secretary may cause a rural business investment company to forfeit rights or privileges under subsection (a), a court of the United States of competent jurisdiction must find that the rural business investment company committed a violation, or failed to comply, in a cause of action brought for that purpose in the district, territory, or other place subject to the jurisdiction of the United States, in which the principal office of the rural business investment company is located.
Each cause of action brought by the United States under this subsection shall be brought by the Secretary or by the Attorney General. ( Pub. L. 87–128, title III, § 384N , as added Pub. L. 107–171, title VI, § 6029 , May 13, 2002 , 116 Stat. 400 .)
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- Pub. L. 87-128
- Pub. L. 107-171
- 116 Stat. 400
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§ 2009cc–13
Additional penalties for noncompliance
Stat.×1
Pub. L.Pub. L. 87-128
Pub. L.Pub. L. 107-171
Stat.116 Stat. 400
Cites 3Cited by 1 across 1 source