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United States · Law · HR

H.R. 923 (108th)

Premier Certified Lenders Program Improvement Act of 2004

enactedUnited States· United States Congress· EN

Introduced

26 February 2003

Last action

Status

Became Public Law No: 108-232.

Sponsors

Subjects

Discovery layer

Source updated

7 April 2025

Summary

Premier Certified Lenders Program Improvement Act of 2002 (sic) - Amends the Small Business Investment Act of 1958 to make loss reserve requirements of lenders under the premier certified lenders (PCL) program inapplicable to PCLs that ensure that the amount of their loss reserve is: (1) not less than $25,000; and (2) sufficient, as determined by a third-party auditor, to protect the Government from the risk of loss associated with the PCL's portfolio of loans. Designates such PCLs as qualified high loss reserve PCLs. Provides related loss reserve requirements.

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Documents

17 official files

Enrolled Bill (text)

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