2012 US Code
Title 15 - Commerce and Trade
Chapter 14B - SMALL BUSINESS INVESTMENT PROGRAM (§§ 661 - 697g)
Subchapter III - INVESTMENT DIVISION PROGRAMS (§§ 681 - 690q)
Part A - Small Business Investment Companies (§§ 681 - 688)
Section 687g - Penalties and forfeitures
Publication Title | United States Code, 2012 Edition, Title 15 - COMMERCE AND TRADE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 14B - SMALL BUSINESS INVESTMENT PROGRAM SUBCHAPTER III - INVESTMENT DIVISION PROGRAMS Part A - Small Business Investment Companies Sec. 687g - Penalties and forfeitures |
Contains | section 687g |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 85-699, title III, §315, as added Pub. L. 89-779, §7, Nov. 6, 1966, 80 Stat. 1364. |
Statutes at Large Reference | 80 Stat. 1364 |
Public Law References | Public Law 85-699, Public Law 89-779 |
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Except as provided in subsection (b) of this section, a licensee which violates any regulation or written directive issued by the Administrator, requiring the filing of any regular or special report pursuant to section 687b(b) of this title, shall forfeit and pay to the United States a civil penalty of not more than $100 for each and every day of the continuance of the licensee's failure to file such report, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The civil penalties provided for in this section shall accrue to the United States and may be recovered in a civil action brought by the Administration.
(b) Exemption from reporting requirementsThe Administration may by rules and regulations, or upon application of an interested party, at any time previous to such failure, by order, after notice and opportunity for hearing, exempt in whole or in part, any small business investment company from the provisions of subsection (a) of this section, upon such terms and conditions and for such period of time as it deems necessary and appropriate, if the Administration finds that such action is not inconsistent with the public interest or the protection of the Administration. The Administration may for the purposes of this section make any alternative requirements appropriate to the situation.
(Pub. L. 85–699, title III, §315, as added Pub. L. 89–779, §7, Nov. 6, 1966, 80 Stat. 1364.)
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