13 CFR 115.20 - Insolvency of Surety.

§ 115.20 Insolvency of Surety.

(a)Successor in interest. If a Surety becomes insolvent, all rights or benefits conferred on the Surety under a valid and binding Prior Approval or PSB Agreement will accrue only to the trustee or receiver of the Surety. SBA will not be liable to the trustee or receiver of the insolvent Surety except for the guaranteed portion of any Loss incurred and actually paid by such Surety or its trustee or receiver under the guaranteed bonds.

(b)Filing requirement. The trustee or receiver must submit to SBA quarterly status reports accounting for all funds received and all settlements being considered.

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.

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.

United States Code
Statutes at Large
Public Laws

Title 13 published on 04-May-2017 03:04

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 13 CFR Part 115 after this date.

  • 2016-08-09; vol. 81 # 153 - Tuesday, August 9, 2016
    1. 81 FR 52595 - Miscellaneous Amendments to Business Loan Programs and Surety Bond Guarantee Program
      GPO FDSys XML | Text
      Proposed rule.
      SBA must receive comments to the proposed rule on or before October 11, 2016.
      13 CFR Parts 115 and 120