13 CFR 120.1706 - Pool Originator's retained interest in Pool.

§ 120.1706 Pool Originator's retained interest in Pool.
The Pool Originator must retain an ownership interest in any Pool it has formed that is equal to at least 5% of the aggregate of the total outstanding principal balance of each Pool Loan with a Loan Interest in the Pool as calculated at the time of Pool formation. Such interest will decline with Loan Interest payments, prepayments, defaults and any other early termination. At Pool formation, the CSA will issue the Pool Originator a Pool Originator Receipt evidencing the Pool Originator's retained interest in the Pool. The Pool Originator may not sell, pledge, participate, or otherwise transfer its Pool Originator Receipt or any interest therein for the life of the Pool.

Title 13 published on 2014-01-01

no entries appear in the Federal Register after this date.

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United States Code
Statutes at Large

Title 13 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 13 CFR 120 after this date.

  • 2014-03-17; vol. 79 # 51 - Monday, March 17, 2014
    1. 79 FR 14617 - Microloan Program Expanded Eligibility and Other Program Changes
      GPO FDSys XML | Text
      Proposed rule.
      Comments must be received on or before May 16, 2014.
      13 CFR Part 120