38 U.S.C. § 3743 — Liability on loans

FEDERAL · 38 U.S.C. · Chapter 37

Liability on loans

Current through Pub. L. 119-102

Title 38 — Veterans' Benefits·Ch. 37 — HOUSING AND SMALL BUSINESS LOANS·Subch. IV

Each individual who has an ownership interest in a veterans' small business concern that is provided a direct loan under this subchapter, or that obtains a loan guaranteed under this subchapter, shall execute a note or other document evidencing the direct or guaranteed business loan, and such individuals shall be jointly and severally liable to the United States for the amount of such direct loan or, in the case of a guaranteed loan, for any amount paid by the Secretary on account of such loan.

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Each individual who has an ownership interest in a veterans' small business concern that is provided a direct loan under this subchapter, or that obtains a loan guaranteed under this subchapter, shall execute a note or other document evidencing the direct or guaranteed business loan, and such individuals shall be jointly and severally liable to the United States for the amount of such direct loan or, in the case of a guaranteed loan, for any amount paid by the Secretary on account of such loan.

38 U.S.C. § 3743 (Liability on loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Added Pub. L. 97–72, title III, §302(a), Nov. 3, 1981, 95 Stat. 1057, §1843; amended Pub. L. 101–237, title III, §313(b)(1), Dec. 18, 1989, 103 Stat. 2077; renumbered §3743, Pub. L. 102–83, §5(a), Aug. 6, 1991, 105 Stat. 406.)

Editorial Notes

Editorial Notes

Amendments
1991—Pub. L. 102–83 renumbered section 1843 of this title as this section.
1989—Pub. L. 101–237 substituted "Secretary" for "Administrator".