Source: https://www.govregs.com/uscode/15/681
Timestamp: 2020-04-10 02:55:16
Document Index: 781938028

Matched Legal Cases: ['§\u202f682', '§\u202f208', '§\u202f301', '§\u202f4', '§\u202f11', '§\u202f202', '§\u202f2', '§\u202f106', '§\u202f104', '§\u202f105', '§\u202f208', '§\u202f212', '§\u202f2']

15 USC 681 - Organization
All TitlesTitle 15Chapter 14BSubchapter IIIPart A
Subchapter II - SMALL BUSINESS INVESTMENT DIVISION OF SMALL BUSINESS ADMINISTRATION
§ 682. Capital requirements
Incorporation and charter under State law, period of succession; area of operations
Articles of incorporation; approval
Within a reasonable time after receiving a completed application submitted in accordance with this subsection and in accordance with such requirements as the Administrator may prescribe by regulation, the Administrator shall—
In reviewing and processing any application under this subsection, the Administrator—
shall determine whether—
the probability of successful operations of the applicant, including adequate profitability and financial soundness;
shall not take into consideration any projected shortage or unavailability of leverage; and
shall give first priority to an applicant that is located in an underlicensed State with below median financing, as determined by the Administrator.
Notwithstanding any other provision of this chapter, the Administrator may, in the discretion of the Administrator and based on a showing of special circumstances and good cause, approve an application and issue a license under this subsection with respect to any applicant that—
An applicant licensed pursuant to the exception provided in this paragraph shall not be eligible to receive leverage as a licensee until the applicant satisfies the requirements of section 682(a) of this title, unless the applicant—
is located in a State that—
is not served by a licensee; or
is an underlicensed State; and
Repealed. Pub. L. 104–208, div. D, title II, § 208(b)(3)(A), Sept. 30, 1996, 110 Stat. 3009–742
Fees collected under this subsection—
(Pub. L. 85–699, title III, § 301, Aug. 21, 1958, 72 Stat. 691; Pub. L. 86–502, § 4, June 11, 1960, 74 Stat. 196; Pub. L. 87–341, § 11(a), (b), Oct. 3, 1961, 75 Stat. 756; Pub. L. 90–104, title II, § 202, Oct. 11, 1967, 81 Stat. 269; Pub. L. 92–595, § 2(b), Oct. 27, 1972, 86 Stat. 1314; Pub. L. 94–305, title I, § 106(b)–(d), June 4, 1976, 90 Stat. 666; Pub. L. 95–507, title I, § 104, Oct. 24, 1978, 92 Stat. 1758; Pub. L. 100–590, title I, § 105, Nov. 3, 1988, 102 Stat. 2993; Pub. L. 104–208, div. D, title II, § 208(b)(1)–(3)(A), Sept. 30, 1996, 110 Stat. 3009–741, 3009–742; Pub. L. 105–135, title II, §§ 212, 214, Dec. 2, 1997, 111 Stat. 2601; Pub. L. 115–333, § 2(2), Dec. 19, 2018, 132 Stat. 4488.)
cite as: 15 USC 681