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United States · Law · S

S. 1196 (107th)

Small Business Investment Company Amendments Act of 2001

enactedUnited States· United States Congress· EN

Introduced

18 July 2001

Last action

Status

Became Public Law No: 107-100.

Sponsors

Subjects

Discovery layer

Source updated

7 April 2025

Summary

Small Business Investment Company Amendments Act of 2001 - Amends the Small Business Investment Act of 1958 (the Act) to: (1) increase the amount that the Small Business Administration (SBA) may charge as a subsidy fee for guaranteeing the payment of a debenture from1.0 to 1.28 percent of the debenture amount; and (2) extend through FY 2001 the debenture maturity period. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to provide civil penalties for false statements or representations of securities for purposes of influencing SBA actions. Authorizes the SBA Administrator to serve upon any management official (currently, only upon a director or officer of a licensee) a written notice of the SBA's intention to remove such official for violations of such Act or breach of duty. Revises removal requirements, including provisions concerning hearings, issuance of an order of removal, the authority to suspend or prohibit the business participation of a management official, judicial review of suspensions, and the authority to suspend a management official due to the commission of or participation in a felony involving dishonesty or a breach of trust.

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Documents

18 official files

Enrolled Bill (text)

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