EXECUTIVE ORDERS E.O. 11478, Equal employment opportunity in the Federal Government... E.O. 11625, Prescribing additional arrangements for developing and coordinating a National Program for Minority Business Enterprise_-_. E.O. 11871, Transferring the SCORE and ACE programs from ACTION to the Small Business Administration____ Page 169 171 175 SMALL BUSINESS INVESTMENT ACT OF 1958 Statement of policy. Definitions Small Business Investment Division of SBA__‒‒ Organization of small business investment companies_ Capital requirements. Borrowing power_. Equity capital for small business-- Loans to small business concerns. Aggregate limitations__. Exemptions from other laws. Miscellaneous provisions: Cooperation with banks and other financial institutions___. Use of advisory services; depository or fiscal agents, investment of Rules or regulations--- Forfeiture of rights, privileges, and franchises; jurisdiction_ Liability of United States___. Powers and duties under Small Business Act applicable--- Losses sustained and future loss estimates to be included in SBA Additional material required in annual report__ Interest charges, limitation__. Revocation and suspension of licenses; cease and desist orders__- Examinations and investigations__ Injunctions and other orders__. Conflicts of interest_-- Removal or suspension of directors and officers of licensees_. Unlawful acts and omissions by officers, directors, employees or agents; breach of fiduciary duty--. Failure to file reports; penalties and forfeitures; exemptions_ Jurisdiction and service of process_. Interest subsidy-- Joint-ownership companies, benefits. Preferred stock asset coverage requirement, exemption_-_. 87 Bad debts, losses, and gains with respect to securities held by financial Reserves for losses on loans of small business investment companies, etc... Loss of small business investment company. 89 89 86 86 87 RELATED PROVISIONS OF LAW Advocacy, Office of, establishment_. Civil Rights Act of 1964__ 165 91 Consolidated Farm and Rural Development Act amendment, SBA disaster 100 Disaster Relief Act of 1970__ 93 Disaster Relief Act of 1974_. 110 Domestic Volunteer Service Act of 1973 (SCORE-ACE) 101 SCORE-ACE. See Domestic Volunteer Service Act of 1973. 165 EXECUTIVE ORDERS E.O. 11478, Equal employment opportunity in the Federal Government.... E.O. 11625, Prescribing additional arrangements for developing and coordinating a National Program for Minority Business Enterprise_-_ E.O. 11871, Transferring the SCORE and ACE programs from ACTION to the Small Business Administration___. Page 169 171 175 SMALL BUSINESS ACT (Public Law 85-536,1 as amended to August 4, 1977) SEC. 1. This Act may be cited as the "Small Business Citation. Act". Policy of SEC. 2. (a) The essence of the American economic system of private enterprise is free competition. Only 15 U.S.C. 631. through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal initiative and individual judgment be assured. The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation. Such security and wellbeing cannot be realized unless the actual and potential capacity of small business is encouraged and developed. It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect, insofar as is possible, the interests of small-business concerns in order to preserve free competitive enterprise, to insure that a fair proportion of the total purchases and contracts or subcontracts for property and services for the Government (including but not limited to contracts or subcontracts for maintenance, repair, and construction) be placed with small-business enterprises, to insure that a fair proportion of the total sales of Government property be made to such enterprises, and to maintain and strengthen the overall economy of the Nation.2 (b) It is the declared policy of the Congress that the Government, through the Small Business Administration, should aid and assist small business concerns which are engaged in the production of food and fiber, ranching and raising of livestock, aquaculture, and all other farming and agricultural related industries; and the financial assistance programs authorized by this Act are also to be. used to assist such concerns.2a (c) The assistance programs authorized by sections 7 (i) and 7(j) of this Act are to be utilized to assist in the establishment, preservation, and strengthening of small business concerns and improve the managerial skills employed in such enterprises, with special attention to small business concerns (1) located in urban or rural areas with high proportions of unemployed or low-income individuals; or (2) owned by low-income individuals; and to 1 Approved July 18, 1958. (72 Stat. 384). 2 The subcontracts of contractors performing work or rendering services under Government procurement contracts were included within the policy statements of section 2(a) by section 6 of PL 87-305, the Small Business Act Amendments of 1961, approved September 26, 1961. (75 Stat. 667). 2a Section 2(b) added by section 112(a) of PL 94-305, approved June 4, 1976. (90 Stat. 663). |