2012 US Code
Title 15 - Commerce and Trade
Chapter 14B - SMALL BUSINESS INVESTMENT PROGRAM (§§ 661 - 697g)
Subchapter III - INVESTMENT DIVISION PROGRAMS (§§ 681 - 690q)
Part C - Renewable Fuel Capital Investment Pilot Program (§§ 690 - 690q)
Section 690d - Debentures
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 C - Renewable Fuel Capital Investment Pilot Program Sec. 690d - Debentures |
Contains | section 690d |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 85-699, title III, §385, as added Pub. L. 110-140, title XII, §1207, Dec. 19, 2007, 121 Stat. 1778. |
Statutes at Large Reference | 121 Stat. 1778 |
Public Law References | Public Law 85-699, Public Law 110-140 |
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The Administrator may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any Renewable Fuel Capital Investment company.
(b) Terms and conditionsThe Administrator may make guarantees under this section on such terms and conditions as it determines appropriate, except that—
(1) the term of any debenture guaranteed under this section shall not exceed 15 years; and
(2) a debenture guaranteed under this section—
(A) shall carry no front-end or annual fees;
(B) shall be issued at a discount;
(C) shall require no interest payments during the 5-year period beginning on the date the debenture is issued;
(D) shall be prepayable without penalty after the end of the 1-year period beginning on the date the debenture is issued; and
(E) shall require semiannual interest payments after the period described in subparagraph (C).
(c) Full faith and credit of the United StatesThe full faith and credit of the United States is pledged to pay all amounts that may be required to be paid under any guarantee under this part.
(d) Maximum guarantee (1) In generalUnder this section, the Administrator may guarantee the debentures issued by a Renewable Fuel Capital Investment company only to the extent that the total face amount of outstanding guaranteed debentures of such company does not exceed 150 percent of the private capital of the company, as determined by the Administrator.
(2) Treatment of certain Federal fundsFor the purposes of paragraph (1), private capital shall include capital that is considered to be Federal funds, if such capital is contributed by an investor other than a department or agency of the Federal Government.
(Pub. L. 85–699, title III, §385, as added Pub. L. 110–140, title XII, §1207, Dec. 19, 2007, 121 Stat. 1778.)
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