qualified issuer

(8) Qualified issuer (A) In general The term “qualified issuer” means a community development financial institution (or any entity designated to issue notes or bonds on behalf of such community development financial institution) that meets the qualification requirements of this paragraph. (B) Approval criteria for qualified issuers (i) In general The Secretary shall approve a qualified issuer for a guarantee under the Program in accordance with the requirements of this paragraph, and such additional requirements as the Secretary may establish, by regulation. (ii) Terms and qualifications A qualified issuer shall— (I) have appropriate expertise, capacity, and experience, or otherwise be qualified to make loans for eligible community or economic development purposes; (II) provide to the Secretary— (aa) an acceptable statement of the proposed sources and uses of the funds; and (bb) a capital distribution plan that meets the requirements of subsection (c)(1); and (III) certify to the Secretary that the bonds or notes to be guaranteed are to be used for eligible community or economic development purposes. (C) Department opinion; timing (i) Department opinion Not later than 30 days after the date of a request by a qualified issuer for approval of a guarantee under the Program, the Secretary shall provide an opinion regarding compliance by the issuer with the requirements of the Program under this section. (ii) Timing The Secretary shall approve or deny a guarantee under this section after consideration of the opinion provided to the Secretary under clause (i), and in no case later than 90 days after receipt of all required information by the Secretary with respect to a request for such guarantee.


12 USC § 4713a(a)(8)

Scoping language

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