COMMITTEE ON SMALL BUSINESS TOM STEED, Oklahoma JOHN D. DINGELL, Michigan NEAL SMITH, Iowa, Chairman JAMES C. CORMAN, California FERNAND J. ST GERMAIN, Rhode Island HENRY B. GONZALEZ, Texas JAMES M. HANLEY, New York JOHN BRECKINRIDGE, Kentucky JOHN J. LAFALCE, New York BERKLEY BEDELL, Iowa FREDERICK W. RICHMOND, New York MARTY RUSSO, Illinois ALVIN BALDUS, Wisconsin HERMAN BADILLO, New York RICHARD H. ICHORD, Missouri HENRY J. NOWAK, New York THOMAS A. LUKEN, Ohio JOSEPH A. LEFANTE, New Jersey DALE E. KILDEE, Michigan IKE SKELTON, Missouri SILVIO O. CONTE, Massachusetts M. CALDWELL BUTLER, Virginia DAN MARRIOTT, Utah WYCHE FOWLER, JR., Georgia BERNARD LAYNE, Staff Director THOMAS G. POWERS, General Counsel GEORGE M. GRANT, Jr., Legislative Counsel GEORGE BAUERNFEIND, Tax Counsel MICHAEL J. WARD, Counsel LOIS LIBERTY, Publications Specialist JAMES R. PHALEN, Minority Counsel JOHN NEUMANN, Minority Legislative Assistant (II) Lending authority: Definition of small business concern_ Small Business Administration; organization, executive direction and General powers--- Certificates of competency and determinations under Walsh-Healey Public SMALL BUSINESS INVESTMENT ACT OF 1958 Page $ 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.. 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--- Lease guarantees--. Pollution control guarantees. Surety bond guarantees- Loans to State and local development companies.. Criminal penalties. Bad debts, losses, and gains with respect to securities held by financial institutions Reserves for losses on loans of small business investment companies, etc... Loss of small business investment company 89 86 87 RELATED PROVISIONS OF LAW Advocacy, Office of, establishment_ 165 Civil Rights Act of 1964__ 91 Consolidated Farm and Rural Development Act amendment, SBA disaster loan interest rate and repeal of $5,000 forgiveness feature_. 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 |