2021 US Code
Title 10 - Armed Forces
Subtitle A - General Military Law
Part V - Acquisition
Subpart I - Defense Industrial Base
Chapter 389 - Loan Guarantee Programs
Subchapter I - Defense Export Loan Guarantees
Sec. 4973 - Limitations
10 U.S.C. § 4973 (2021) |
§4973. Limitations |
(a) Terms and Conditions of Loan Guarantees.—In issuing a guarantee under this subchapter for a medium-term or long-term loan, the Secretary may not offer terms and conditions more beneficial than those that would be provided to the recipient by the Export-Import Bank of the United States under similar circumstances in conjunction with the provision of guarantees for nondefense articles and services. (b) Losses Arising From Fraud or Misrepresentation.—No payment may be made under a guarantee issued under this subchapter for a loss arising out of fraud or misrepresentation for which the party seeking payment is responsible. (c) No Right of Acceleration.—The Secretary of Defense may not accelerate any guaranteed loan or increment, and may not pay any amount, in respect of a guarantee issued under this subchapter, other than in accordance with the original payment terms of the loan. |
(Added Pub. L. 104–106, div. A, title XIII, §1321(a)(1), Feb. 10, 1996, 110 Stat. 476, §2540b; renumbered §4973, Pub. L. 116–283, div. A, title XVIII, §1873(b), (c)(1), Jan. 1, 2021, 134 Stat. 4290.) |
EDITORIAL NOTES
AMENDMENTS
2021—Pub. L. 116–283 renumbered section 2540b of this title as this section. STATUTORY NOTES AND RELATED SUBSIDIARIES EFFECTIVE DATE OF 2021 AMENDMENT Amendment by Pub. L. 116–283 effective Jan. 1, 2022, with additional provisions for delayed implementation and applicability of existing law, see section 1801(d) of Pub. L. 116–283, set out as a note preceding section 3001 of this title. |
United States Code, 2018 Edition, Supplement 3, Title 10 - ARMED FORCES |
Bills and Statutes |
United States Code |
Y 1.2/5: |
Title 10 - ARMED FORCES Subtitle A - General Military Law PART V - ACQUISITION Subpart I - Defense Industrial Base CHAPTER 389 - LOAN GUARANTEE PROGRAMS SUBCHAPTER I - DEFENSE EXPORT LOAN GUARANTEES Sec. 4973 - Limitations |
section 4973 |
2021 |
January 3, 2022 |
Yes |
standard |
110 Stat. 476 134 Stat. 4290 |
Public Law 104-106, Public Law 116-283 |