ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

15 U.S.C. § 697cRestrictions on development company assistance

submitted 38 years ago by Pub. L. 85-699 to r/title-15-COMMERCE-AND-TRADE · 197 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section restricts conditions, priorities, and restrictions that may accompany funding for a development company or financing for a small business. It also restricts conditions and requirements imposed directly or indirectly on recipients of assistance, subject to a stated exception.

Regardless of any other law: (1) On or after May 1, 1991, a development company may not accept funding from any source, including any department or agency of the United States Government, if that funding includes conditions, priorities, or restrictions on the types of small businesses to which the development company may provide financial assistance under this subchapter. It also may not accept funding that includes conditions or imposes requirements, directly or indirectly, on any recipient of assistance under this subchapter. (2) Before May 1, 1991, a department or agency of the United States Government that provides funding to a development company may not impose a condition, priority, or restriction on the type of small business that receives financing under this subchapter. It also may not include a condition or impose a requirement, directly or indirectly, on any recipient of assistance under this subchapter. However, these rules do not affect such conditions, priorities, or restrictions if the department or agency also provides all the financial assistance that the development company will deliver to the small business, and the conditions, priorities, or restrictions apply only to the financial assistance that department or agency provides.
the actual law source: uscode.house.gov ↗public domain

Notwithstanding Any Other Provision of Law: (1) on or after May 1, 1991, no development company may accept funding from any source, including but not limited to any department or agency of the United States Government, if such funding includes any conditions, priorities or restrictions upon the types of small businesses to which they may provide financial assistance under this subchapter or if it includes any conditions or imposes any requirements, directly or indirectly, upon any recipient of assistance under this subchapter; and (2) before such date, no department or agency of the United States Government which provides funding to any development company shall impose any condition, priority or restriction upon the type of small business which receives financing under this subchapter nor shall it include any condition or impose any requirement, directly or indirectly, upon any recipient of assistance under this subchapter: Provided, That the foregoing shall not affect any such conditions, priorities or restrictions if the department or agency also provides all of the financial assistance to be delivered by the development company to the small business and such conditions, priorities or restrictions are limited solely to the financial assistance so provided.

Source credit: (Pub. L. 85–699, title V, § 506, as added Pub. L. 100–590, title I, § 117(b), Nov. 3, 1988, 102 Stat. 2998.)

history & why it existsrecord from the source credit
  • 1988Enacted · Pub. L. 85-699 · 102 Stat. 2998

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-699 on 1988-11-03.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case