13 CFR 107.507 - Violations based on false filings and nonperformance of agreements with SBA.

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Title 13: Business Credit and Assistance

CHAPTER I: SMALL BUSINESS ADMINISTRATION

PART 107: SMALL BUSINESS INVESTMENT COMPANIES

Subpart E: Managing the Operations of a Licensee

: General Requirements

107.507 - Violations based on false filings and nonperformance of agreements with SBA.

The following shall constitute a violation of this part:

(a) Nonperformance. Nonperformance of any of the requirements of any Debenture, Participating Security or Preferred Security, or of any written agreement with SBA.

(b) False statement. In any document submitted to SBA:

(1) Any false statement knowingly made; or

(2) Any misrepresentation of a material fact; or

(3) Any failure to state a material fact. A material fact is any fact which is necessary to make a statement not misleading in light of the circumstances under which the statement was made.

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