FEDERAL · 15 U.S.C. · Chapter 45
Protection of Government's interest
15 U.S.C. § 1850
Title15 — Commerce and Trade
Chapter45 — EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES
This text of 15 U.S.C. § 1850 (Protection of Government's interest) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
15 U.S.C. § 1850.
Text
(a)Attorney General, enforcement authority; payments into emergency loan guarantee fund
The Attorney General shall take such action as may be appropriate to enforce any right accruing to the United States or any officer or agency thereof as a result of the issuance of guarantees under this chapter. Any sums recovered pursuant to this section shall be paid into the emergency loan guarantee fund.
(b)Recovery rights; subrogation
The Board shall be entitled to recover from the borrower, or any other person liable therefor, the amount of any payments made pursuant to any guarantee agreement entered into under this chapter, and upon making any such payment, the Board shall be subrogated to all the rights of the recipient thereof.
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Source Credit
History
(Pub. L. 92–70, §11, Aug. 9, 1971, 85 Stat. 181.)
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Bluebook (online)
15 U.S.C. § 1850, Counsel Stack Legal Research, https://law.counselstack.com/usc/15/1850.