12 USC 4744: Participation agreements
Text contains those laws in effect on November 20, 2024
From Title 12-BANKS AND BANKINGCHAPTER 47-COMMUNITY DEVELOPMENT BANKINGSUBCHAPTER II-SMALL BUSINESS CAPITAL ENHANCEMENT
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§4744. Participation agreements
(a) In general
A participating State may enter into a participation agreement with any financial institution determined by the participating State, after consultation with the appropriate Federal banking agency, to have sufficient commercial lending experience and financial and managerial capacity to participate in the Program. The determination by the State shall not be reviewable by the Fund.
(b) Participating financial institutions
Upon entering into the participation agreement with the participating State, the financial institution shall become a participating financial institution eligible to enroll loans under the Program.
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