7 U.S.C. § 2009cc–13 — Additional penalties for noncompliance
submitted 24 years ago by Pub. L. 87-128 to r/title-7-AGRICULTURE · 196 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
With respect to any rural business investment company* that violates or fails to comply with this subchapter (including any rule, regulation, order, or participation agreement* under this subchapter), the Secretary may, in accordance with this section—
void the participation agreement between the Secretary and the rural* business investment company; and
cause the rural business investment company to forfeit all of the rights and privileges derived by the rural business investment company under this subchapter.
Before the Secretary may cause a rural business investment company to forfeit rights or privileges under subsection (a), a court of the United States* of competent jurisdiction must find that the rural business investment company committed a violation, or failed to comply, in a cause of action brought for that purpose in the district, territory, or other place subject to the jurisdiction of the United States, in which the principal office of the rural business investment company is located.
Each cause of action brought by the United States under this subsection shall be brought by the Secretary or by the Attorney General.
Source credit: (Pub. L. 87–128, title III, § 384N, as added Pub. L. 107–171, title VI, § 6029, May 13, 2002, 116 Stat. 400.)
- 2002Enacted · Pub. L. 87-128 · 116 Stat. 400
A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-128 on 2002-05-13.
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