7-U.S.C.-2009CC-13

§2009Cc-13 – §2009Cc-13. Additional Penalties For Noncompliance

Pathway

Title 7 > Chapter 50 > Subchapter VIII > Section 2009cc-13

Details

• Reference: Section 2009cc-13
• Legend: §2009Cc-13 – §2009Cc-13. Additional Penalties For Noncompliance
• USCode Year: 2013

Provision Content

(a) In general

With respect to any rural business investment company that violates or fails to comply with this subchapter (including any rule, regulation, order, or participation agreement under this subchapter), the Secretary may, in accordance with this section—

(1) void the participation agreement between the Secretary and the rural business investment company; and

(2) cause the rural business investment company to forfeit all of the rights and privileges derived by the rural business investment company under this subchapter.

(b) Adjudication of noncompliance

(1) In general

Before the Secretary may cause a rural business investment company to forfeit rights or privileges under subsection (a) of this section, a court of the United States of competent jurisdiction must find that the rural business investment company committed a violation, or failed to comply, in a cause of action brought for that purpose in the district, territory, or other place subject to the jurisdiction of the United States, in which the principal office of the rural business investment company is located.

(2) Parties authorized to file causes of action

Each cause of action brought by the United States under this subsection shall be brought by the Secretary or by the Attorney General.

(Pub. L. 87–128, title III, §384N, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 400.)

U.S. Encyclopedia of Law Coverage

7-U.S.C.-2009AA-8 in the Legal Encyclopedia: Agriculture

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7-U.S.C.-2009CC-12 in the Legal Encyclopedia: Rural

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7-U.S.C.-2009DD-5 in the Legal Encyclopedia: Investment

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Title 7 – Agriculture in the Legal Encyclopedia: Business

In this entry about Title 7 – Agriculture, find legal reference material, bibliographies and premiere content related to business in the American Encyclopedia of Law, presenting a comprehensive view of the United States business-specific issues, written by authorities in the field.

7-U.S.C.-2009BB-8 in the Legal Encyclopedia: Agricultural Credit

In this entry about 7-U.S.C.-2009BB-8, find legal reference material, bibliographies and premiere content related to agricultural credit in the American Encyclopedia of Law, presenting a comprehensive view of the United States agricultural credit-specific issues, written by authorities in the field.

Topic Map

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