20 USC 1086 - Delegation of functions

U.S Code last checked for updates: Apr 28, 2024

§ 1086.

Delegation of functions

(a)

In general

An eligible lender or guaranty agency that contracts with another entity to perform any of the lender’s or agency’s functions under this subchapter, or otherwise delegates the performance of such functions to such other entity—

(1)

shall not be relieved of the lender’s or agency’s duty to comply with the requirements of this subchapter; and

(2)

shall monitor the activities of such other entity for compliance with such requirements.

(b)

Special rule

(Pub. L. 89–329, title IV, § 436, as added Pub. L. 99–498, title IV, § 402(a), Oct. 17, 1986, 100 Stat. 1413; amended Pub. L. 105–244, title IV, § 430, Oct. 7, 1998, 112 Stat. 1709.)

cite as: 20 USC 1086