SBA is entitled to recover from Seller any monies paid on SBA's guarantee of a Pool Certificate backed in part by Seller's Pool Loan, plus interest, if SBA in its sole discretion determines that any of the following events has occurred:
(a) Seller's improper action or inaction has put SBA at risk;
(b) Seller has failed to disclose a material fact to SBA regarding a Seller's Pool Loan in a timely manner;
(c) Seller has misrepresented a material fact to SBA regarding Seller's Pool Loan;
(d) Seller has failed to comply materially with § 120.1720 of this subpart;
(e) SBA has received a written request from Seller to terminate the SBA's guarantee on the Loan Interest in Seller's Pool Loan;
(f) Seller has failed to comply materially with Program Rules and Regulations; or
(g) Seller has failed to make, close, service or liquidate Seller's Pool Loan in a prudent manner.
Title 13 published on 2013-01-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.