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SBA

RIN: 3245-AE83

Publication ID: Fall 2005

Title: Business Loans and Development Company Loans; Liquidation and Litigation Procedures
Abstract: This proposed rule would implement statutory provisions authorizing SBA to delegate to qualified Certified Development Companies (CDCs) authority to conduct liquidation and debt collection litigation of loans that are funded with the proceeds of debentures guaranteed by the SBA under the 504 loan program. In particular, this rule would establish: (1) Procedures for CDCs to obtain delegated authority for such liquidation and litigation; (2) guidelines for CDCs exercising this authority; and (3) procedures for SBA's payment of legal fees and expenses to CDCs and Lenders; among other things. This rule would also require Lenders to complete all cost-effective debt recovery actions prior to requesting guaranty purchase by SBA.
Agency: Small Business Administration(SBA)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 13 CFR 120
Legal Authority: 15 USC 634(b)(6) 15 USC 636(a) 15 USC 636(h) 15 USC 697(a)(2) PL 106-554

Legal Deadline:

Action	Source	Description	Date
Final	Statutory	Small Business Reauthorization Act of 2000, enacted 12/21/2000, requires publication of rule.	05/21/2001

Timetable:

Action	Date	FR Cite
NPRM	03/00/2006

Regulatory Flexibility Analysis Required: Yes	Government Levels Affected: None
Small Entities Affected: Businesses	Federalism: No
Included in the Regulatory Plan: No
Agency Contact: Walter C. Intlekofer Chief, Office Of Portfolio Management Small Business Administration 409 Third Street SW, Washington, DC 20416 Phone:202 205-7543 Email: walter.intlekofer@sba.gov