Title 13 published on 2015-01-01.
No entries appear in the Federal Register
after this date, for 13 CFR Part 115.
Title 13 published on 2015-01-01
The following are
ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 13 CFR Part 115 after this date.
2015-04-14; vol. 80 # 71 - Tuesday, April 14, 2015
80 FR 19886 - Surety Bond Guarantee Program; Miscellaneous Amendments
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SMALL BUSINESS ADMINISTRATION
SBA must receive comments to this proposed rule on or before June 15, 2015.
13 CFR Part 115
This rule proposes to change the regulations for SBA's Surety Bond Guarantee Program in four areas. First, as a condition for participating in the Prior Approval and Preferred Programs, the proposal would clarify that a Surety must directly employ underwriting and claims staffs sufficient to perform and manage these functions, and final settlement authority for claims and recovery is vested only in salaried employees of the Surety. Second, the proposal would provide that all costs incurred by the Surety's salaried claims staff are ineligible for reimbursement by SBA, but the Surety may seek reimbursement for amounts paid for specialized services that are provided by outside consultants in connection with the processing of a claim. Third, the rule proposes to modify the criteria for determining when a Principal that caused a Loss to SBA is ineligible for a bond guaranteed by SBA. Fourth, the rule proposes to modify the criteria for admitting Sureties to the Preferred Surety Bond Guarantee Program by increasing the Surety's underwriting limitation, as certified by the U.S. Treasury Department on its list of acceptable sureties, from at least $2 million to at least $6.5 million.