15 U.S.C. § 1844 — Security for loan guarantees
submitted 55 years ago by Pub. L. 92-70 to r/title-15-COMMERCE-AND-TRADE · 47 words · no verdicts yet
This section requires the Board, when negotiating a loan guarantee, to try to secure the loan’s principal and interest with enough enterprise property to fully cover the guaranteed amount.
In negotiating a loan guarantee under this chapter, the Board must make every effort to arrange that the payment of the principal of and interest on any plan guaranteed must be secured by sufficient property of the enterprise to collateralize fully the amount of the loan guarantee.
In negotiating a loan guarantee under this chapter, the Board shall make every effort to arrange that the payment of the principal of and interest on any plan guaranteed shall be secured by sufficient property of the enterprise to collateralize fully the amount of the loan guarantee.
Source credit: (Pub. L. 92–70, § 5, Aug. 9, 1971, 85 Stat. 179.)
- 1971Enacted · Pub. L. 92-70 · 85 Stat. 179
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-70 on 1971-08-09.
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