person

(1) Action to recover assets or income (A) In general The Secretary may request the Attorney General to bring an action in a United States district court to recover any assets or income used by any person in violation of the provisions of a loan made or guaranteed by the Secretary under this section or in violation of any applicable statute or regulation. (B) Improper documentation For purposes of this subsection, a use of assets or income in violation of the applicable loan, loan guarantee, statute, or regulation shall include any use for which the documentation in the books and accounts does not establish that the use was made for a reasonable operating expense or necessary repair of the project or for which the documentation has not been maintained in accordance with the requirements of the Secretary and in reasonable condition for proper audit. (C) Definition For the purposes of this subsection, the term “person” means— (i) any individual or entity that borrows funds in accordance with programs authorized by this section; (ii) any individual or entity holding 25 percent or more interest of any entity that borrows funds in accordance with programs authorized by this section; and (iii) any officer, director, or partner of an entity that borrows funds in accordance with programs authorized by this section.

Source

42 USC § 1485(aa)(1)


Scoping language

None identified. Default scope is assumed to be the entire title.
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