7 U.S. Code § 2009cc–13 - Additional penalties for noncompliance

(a) In general
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—
(1) void the participation agreement between the Secretary and the rural business investment company; and
(2) cause the rural business investment company to forfeit all of the rights and privileges derived by the rural business investment company under this subchapter.
(b) Adjudication of noncompliance
(1) In general
Before the Secretary may cause a rural business investment company to forfeit rights or privileges under subsection (a) of this section, 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.
(2) Parties authorized to file causes of action
Each cause of action brought by the United States under this subsection shall be brought by the Secretary or by the Attorney General.

Source

(Pub. L. 87–128, title III, § 384N, as added Pub. L. 107–171, title VI, § 6029,May 13, 2002, 116 Stat. 400.)

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


7 CFR - Agriculture

7 CFR Part 4290 - RURAL BUSINESS INVESTMENT COMPANY (“RBIC”) PROGRAM

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.