2012 US Code
Title 7 - Agriculture
Chapter 50 - AGRICULTURAL CREDIT (§§ 1921 - 2009ee-3)
Subchapter VIII - RURAL BUSINESS INVESTMENT PROGRAM (§§ 2009cc - 2009cc-18)
Section 2009cc-13 - Additional penalties for noncompliance
| Publication Title | United States Code, 2012 Edition, Title 7 - AGRICULTURE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 7 - AGRICULTURE CHAPTER 50 - AGRICULTURAL CREDIT SUBCHAPTER VIII - RURAL BUSINESS INVESTMENT PROGRAM Sec. 2009cc-13 - Additional penalties for noncompliance |
| Contains | section 2009cc-13 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 87-128, title III, §384N, as added Pub. L. 107-171, title VI, §6029, May 13, 2002, 116 Stat. 400. |
| Statutes at Large Reference | 116 Stat. 400 |
| Public Law References | Public Law 87-128, Public Law 107-171 |
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With respect to any rural business investment company that violates or fails to comply with this subchapter (including any rule, regulation, order, or participation agreement under this subchapter), the Secretary may, in accordance with this section—
(1) void the participation agreement between the Secretary and the rural business investment company; and
(2) cause the rural business investment company to forfeit all of the rights and privileges derived by the rural business investment company under this subchapter.
(b) Adjudication of noncompliance (1) In generalBefore the Secretary may cause a rural business investment company to forfeit rights or privileges under subsection (a) of this section, a court of the United States of competent jurisdiction must find that the rural business investment company committed a violation, or failed to comply, in a cause of action brought for that purpose in the district, territory, or other place subject to the jurisdiction of the United States, in which the principal office of the rural business investment company is located.
(2) Parties authorized to file causes of actionEach cause of action brought by the United States under this subsection shall be brought by the Secretary or by the Attorney General.
(Pub. L. 87–128, title III, §384N, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 400.)
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