13 CFR 120.541 - Time for approval by SBA.

Status message

There are 5 Updates appearing in the Federal Register for 13 CFR Part 120. View below or at eCFR (GPOAccess)
§ 120.541 Time for approval by SBA.

(a) Except as set forth in paragraph (c) of this section, in responding to a request for approval under §§ 120.540(b), 120.540(c), 120.536(b)(5) or 120.536(b)(6), SBA will approve or deny the request within 15 business days of the date when SBA receives the request. If SBA is unable to approve or deny the request within this 15-day period, SBA will provide a written notice of no decision to the Lender or Authorized CDC Liquidator, stating the reason for SBA's inability to act; an estimate of the additional time required to act on the plan or request; and, if SBA deems appropriate, requesting additional information.

(b) Except as set forth in paragraph (c) of this section, unless SBA gives its written consent to a proposed liquidation or litigation plan, or a proposed amendment of a plan, or any of the actions set forth in § 120.536(b)(5) or § 120.536(b)(6), SBA will not be deemed to have approved the proposed action.

(c) If a Lender seeks to perform liquidation on a loan made under its authority as a CLP Lender by submitting a liquidation plan to SBA for approval, SBA will approve or deny such plan within ten business days. If SBA fails to approve or deny the plan within ten business days, SBA will be deemed to have approved such plan.

[ 72 FR 18362, Apr. 12, 2007]

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

Title 13 published on 2015-10-16

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

  • 2017-02-09; vol. 82 # 26 - Thursday, February 9, 2017
    1. 82 FR 9967 - Civil Monetary Penalties Inflation Adjustments
      GPO FDSys XML | Text
      SMALL BUSINESS ADMINISTRATION
      Interim final rule.
      Effective Date: This rule is effective February 9, 2017. Comment Date: Comments must be received on or before April 10, 2017.
      13 CFR Parts 107, 120, 142, and 146

Title 13 published on 2015-10-16.

The following are only the Rules published in the Federal Register after the published date of Title 13.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2017-02-09; vol. 82 # 26 - Thursday, February 9, 2017
    1. 82 FR 9967 - Civil Monetary Penalties Inflation Adjustments
      GPO FDSys: XML | Text
      SMALL BUSINESS ADMINISTRATION
      Interim final rule.
      Effective Date: This rule is effective February 9, 2017. Comment Date: Comments must be received on or before April 10, 2017.
      13 CFR Parts 107, 120, 142, and 146