12 U.S. Code § 5701 - Definitions
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In this chapter, the following definitions shall apply:
(1) Appropriate committees of Congress
The term “appropriate committees of Congress” means—
(A) the Committee on Small Business and Entrepreneurship, the Committee on Agriculture, Nutrition, and Forestry, the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the Committee on the Budget, and the Committee on Appropriations of the Senate; and
(2) Appropriate Federal banking agency
The term “appropriate Federal banking agency”—
(3) Enrolled loan
The term “enrolled loan” means a loan made by a financial institution lender that is enrolled by a participating State in an approved State capital access program in accordance with this chapter.
(4) Federal contribution
The term “Federal contribution” means the portion of the contribution made by a participating State to, or for the account of, an approved State program that is made with Federal funds allocated to the State by the Secretary under section 5702 of this title.
(5) Financial institution
The term “financial institution” means any insured depository institution, insured credit union, or community development financial institution, as those terms are each defined in section 4702 of this title.
(6) Participating State
The term “participating State” means any State that has been approved for participation in the Program under section 5703 of this title.
The term “Program” means the State Small Business Credit Initiative established under this chapter.
(8) Qualifying loan or swap funding facility
The term “qualifying loan or swap funding facility” means a contractual arrangement between a participating State and a private financial entity under which—
(9) Reserve fund
The term “reserve fund” means a fund, established by a participating State, dedicated to a particular financial institution lender, for the purposes of—
(A) depositing all required premium charges paid by the financial institution lender and by each borrower receiving a loan under an approved State program from that financial institution lender;
(B) depositing contributions made by the participating State, including State contributions made with Federal contributions; and
The term “State” means—
(B) the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of Northern Mariana Islands, Guam, American Samoa, and the United States Virgin Islands;
(C) when designated by a State of the United States, a political subdivision of that State that the Secretary determines has the capacity to participate in the Program; and
(11) State capital access program
The term “State capital access program” means a program of a State that—
(12) State other credit support program
The term “State other credit support program”—
(A) means a program of a State that—
(13) State program
The term “State program” means a State capital access program or a State other credit support program.
Source(Pub. L. 111–240, title III, § 3002,Sept. 27, 2010, 124 Stat. 2568.)
References in Text
The Federal Credit Union Act, referred to in par. (2)(B), is act June 26, 1934, ch. 750, 48 Stat. 1216, which is classified principally to chapter 14 (§ 1751 et seq.) of this title. For complete classification of this Act to the Code, see section 1751 of this title and Tables.