15 U.S.C. § 689k — Examinations

FEDERAL · 15 U.S.C. · Chapter 14B

Examinations

Current through Pub. L. 119-102

Title 15 — Commerce and Trade·Ch. 14B — SMALL BUSINESS INVESTMENT PROGRAM·Subch. III·Pt. B

(a)In general Each New Markets Venture Capital company that participates in the program established under this part shall be subject to examinations made at the direction of the Investment Division of the Small Business Administration in accordance with this section.

(b)Assistance of private sector entities Examinations under this section may be conducted with the assistance of a private sector entity that has both the qualifications and the expertise necessary to conduct such examinations.

(c)Costs

(1)1 Assessment

(A)In general The Administrator may assess the cost of examinations under this section, including compensation of the examiners, against the company examined.

(B)Payment Any company against which the Administrator assesses costs under this paragraph shall pay such costs. (

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(a) In general
Each New Markets Venture Capital company that participates in the program established under this part shall be subject to examinations made at the direction of the Investment Division of the Small Business Administration in accordance with this section.
(b) Assistance of private sector entities
Examinations under this section may be conducted with the assistance of a private sector entity that has both the qualifications and the expertise necessary to conduct such examinations.
(c) Costs
(1) 1 Assessment
(A) In general
The Administrator may assess the cost of examinations under this section, including compensation of the examiners, against the company examined.
(B) Payment
Any company against which the Administrator assesses costs under this paragraph shall pay such costs.
(d) Deposit of funds
Funds collected under this section shall be deposited in the account for salaries and expenses of the Small Business Administration.

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Source Credit

History

(Pub. L. 85–699, title III, §362, as added Pub. L. 106–554, §1(a)(8) [§1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A–662.)