13 CFR 120.857 - Voluntary transfer and surrender of CDC certification.

Regulations last checked for updates: May 18, 2024

Title 13 - Business Credit and Assistance last revised: May 02, 2024

View all text of Subpart H [§ 120.800 - § 120.991]

§ 120.857 - Voluntary transfer and surrender of CDC certification.

A CDC may not transfer its certification or withdraw from the 504 program without SBA's consent. The CDC must provide a plan to SBA to transfer its portfolio. The portfolio may only be transferred with SBA's written consent. If a CDC desires to withdraw from the 504 program, it must forfeit its portfolio to SBA. SBA may conduct an audit of the transferring or withdrawing CDC.

[61 FR 3235, Jan. 31, 1996. Redesignated at 68 FR 57987, Oct. 7, 2003]

authority: 15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), 650, 687(f), 696(3) and (7), and 697(a) and (e); sec. 521, Pub. L. 114-113, 129 Stat. 2242; sec. 328(a), Pub. L. 116-260, 134 Stat. 1182

source: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.

cite as: 13 CFR 120.857