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15 U.S.C. § 645 — Offenses and penalties
Federal law — U.S. Code and appendices · legal_authorities
**(a) False statements; overvaluation of securities** Whoever makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or for any applicant any loan, or extension thereof by renewal, deferment of action, or otherwise, or the acceptance, release, or substitution of security therefor, or for the purpose of influencing in any way the action of the Administration, or for the purpose of obtaining money, property, or anything of value, under this chapter, shall be punished by a fine of not more than $5,000 or by imprisonment for not more than two years, or both.
**(b) Embezzlement, etc.** Whoever, being connected in any capacity with the Administration, (1) embezzles, abstracts, purloins, or willfully misapplies any moneys, funds, securities, or other things of value, whether belonging to it or pledged or otherwise entrusted to it, or (2) with intent to defraud the Administration or any other body politic or corporate, or any individual, or to deceive any officer, auditor, or examiner of the Administration, makes any false entry in any book, report, or statement of or to the Administration, or, without being duly authorized, draws any order or issues, puts forth, or assigns any note, debenture, bond, or other obligation, or draft, bill of exchange, mortgage, judgment, or decree thereof, or (3) with intent to defraud participates or shares in or receives directly or indirectly any money, profit, property, or benefit through any transaction, loan, commission, contract, or any other act of the Administration, or (4) gives any unauthorized information concerning any future action or plan of the Administration which might affect the value of securities, or, having such knowledge, invests or speculates, dire
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Stable record: federal_law:legal_authorities:record_usc_220f360e898bd2f03950cca5
Source file: Laws/federal/codes/united-states-code/title-15/section-645-offenses-and-penalties--32c1abed9f.md
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Source location: Title 15, Chapter 14A, § 645; chapter-14a-aid-to-small-business.md
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**(a) False statements; overvaluation of securities** Whoever makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or for any applicant any loan, or extension thereof by renewal, deferment of action, or otherwise, or the acceptance, release, or substitution of security therefor, or for the purpose of influencing in any way the action of the Administration, or for the purpose of obtaining money, property, or anything of value, under this chapter, shall be punished by a fine of not more than $5,000 or by imprisonment for not more than two years, or both.
**(b) Embezzlement, etc.** Whoever, being connected in any capacity with the Administration, (1) embezzles, abstracts, purloins, or willfully misapplies any moneys, funds, securities, or other things of value, whether belonging to it or pledged or otherwise entrusted to it, or (2) with intent to defraud the Administration or any other body politic or corporate, or any individual, or to deceive any officer, auditor, or examiner of the Administration, makes any false entry in any book, report, or statement of or to the Administration, or, without being duly authorized, draws any order or issues, puts forth, or assigns any note, debenture, bond, or other obligation, or draft, bill of exchange, mortgage, judgment, or decree thereof, or (3) with intent to defraud participates or shares in or receives directly or indirectly any money, profit, property, or benefit through any transaction, loan, commission, contract, or any other act of the Administration, or (4) gives any unauthorized information concerning any future action or plan of the Administration which might affect the value of securities, or, having such knowledge, invests or speculates, directly or indirectly, in the securities or property of any company or corporation receiving loans or other assistance from the Administration, shall be punished by a fine of not more than $10,000 or by imprisonment for not more than five years, or both.
**(c) Concealment, etc.** Whoever, with intent to defraud, knowingly conceals, removes, disposes of, or converts to his own use or to that of another, any property mortgaged or pledged to, or held by, the Administration, shall be fined not more than $5,000 or imprisoned not more than five years, or both; but if the value of such property does not exceed $100, he shall be fined not more than $1,000 or imprisoned not more than one year, or both.
**(d) Misrepresentation, etc.**
(1) Whoever misrepresents the status of any concern or person as a “small business concern”, a “qualified HUBZone small business concern”, a “small business concern owned and controlled by service-disabled veterans”, a “small business concern owned and controlled by veterans”, a “small business concern owned and controlled by socially and economically disadvantaged individuals”, or a “small business concern owned and controlled by women”, in order to obtain for oneself or another any—
(A) prime contract to be awarded pursuant to section 637, 638, 644, 657a, 657f, or 657f–1 of this title;
(B) subcontract to be awarded pursuant to [section 637(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section637/a&num=0&edition=prelim);
(C) subcontract that is to be included as part or all of a goal contained in a subcontracting plan required pursuant to [section 637(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section637/d&num=0&edition=prelim); or
(D) prime or subcontract to be awarded as a result, or in furtherance, of any other provision of Federal law that specifically references [section 637(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section637/d&num=0&edition=prelim) for a definition of program eligibility,11 So in original. Following provision probably should be set flush with par. (1). shall be subject to the penalties and remedies described in paragraph (2).
(2) Any person who violates paragraph (1) shall—
(A) be punished by a fine of not more than $500,000 or by imprisonment for not more than 10 years, or both;
(B) be subject to the administrative remedies prescribed by the Program Fraud Civil Remedies Act of 1986 22 See References in Text note below. ([31 U.S.C. 3801–381](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3801–381&num=0&edition=prelim)2);
(C) be subject to suspension and debarment as specified in subpart 9.4 of title 48, Code of Federal Regulations (or any successor regulation); and
(D) be ineligible for participation in any program or activity conducted under the authority of this chapter or the Small Business Investment Act of 1958 ([15 U.S.C. 661](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section661&num=0&edition=prelim) et seq.) for a period not to exceed 3 years.
(3) **Limitation on liability.—** — This subsection shall not apply to any conduct in violation of subsection (a) if the defendant acted in good faith reliance on a written advisory opinion from a Small Business Development Center (as defined in this chapter), or an entity participating in the Procurement Technical Assistance Cooperative Agreement Program defined in chapter 388 of title 10; however nothing in this chapter shall obligate either entity to provide such a letter nor shall the provision of such a letter in any way render the providing entity liable to the business concern should the Administrator later determine that the concern is not a small business concern. Upon issuance of an advisory opinion under this paragraph, the entity issuing the advisory opinion shall remit a copy of the opinion to the General Counsel of the Administration, who may reject the advisory opinion. If the General Counsel of the Administration rejects the advisory opinion, the Administration shall notify the entity issuing the advisory opinion and the recipient of the opinion, after which time the business concern may not rely upon the opinion.
**(e) Representations under subsection (d) to be in writing** Any representation of the status of any concern or person as a “small business concern”, a “HUBZone small business concern”, a “small business concern owned and controlled by service-disabled veterans”, a “small business concern owned and controlled by veterans”, a “small business concern owned and controlled by socially and economically disadvantaged individuals”, or a “small business concern owned and controlled by women” in order to obtain any prime contract or subcontract enumerated in subsection (d) of this section shall be in writing.
**(f) Misrepresentation of compliance with section 636(j)(10)(I)** Whoever falsely certifies past compliance with the requirements of [section 636(j)(10)(I) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/j/10/I&num=0&edition=prelim) shall be subject to the penalties prescribed in subsection (d).
**(g) Subcontracting limitations**
(1) **In general** — Whoever violates a requirement established under [section 657s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section657s&num=0&edition=prelim) shall be subject to the penalties prescribed in subsection (d), except that, for an entity that exceeded a limitation on subcontracting under such section, the fine described in subsection (d)(2)(A) shall be treated as the greater of—
(A) $500,000; or
(B) the dollar amount expended, in excess of permitted levels, by the entity on subcontractors.
(2) **Monitoring** — Not later than 1 year after January 2, 2013, the Administrator shall take such actions as are necessary to ensure that an existing Federal subcontracting reporting system is modified to notify the Administrator, the appropriate Director of the Office of Small and Disadvantaged Business Utilization, and the appropriate contracting officer if a requirement established under [section 657s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section657s&num=0&edition=prelim) is violated.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** For purposes of this chapter—
(1) “authority” means—
(A) an executive department;
(B) a military department;
(C) an establishment (as such term is defined in [section 401 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section401&num=0&edition=prelim)) which is not an executive department;
(D) the United States Postal Service;
(E) the National Science Foundation; and
(F) a designated Federal entity (as such term is defined under [section 415(a) of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section415/a&num=0&edition=prelim));
(2) “authority head” means—
(A) the head of an authority; or
(B) an official or employee of the authority designated, in regulations promulgated by the head of the authority, to act on behalf of the head of the authority;
(3) “claim” means any request, demand, or submission—
(A) made to an authority for property, services, or money (including money representing grants, loans, insurance, or benefits);
(B) made to a recipient of property, services, or money from an authority or to a party to a contract with an authority—
(i) for property or services if the United States—
(I) provided such property or services;
(II) provided any portion of the funds for the purchase of such property or services; or
(III) will reimburse such recipient or party for the purchase of such property or services; or
(ii) for the payment of money (including money representing grants, loans, insurance, or benefits) if the United States—
(I) provided any portion of the money requested or demanded; or
(II) will reimburse such recipient or party for any portion of the money paid on such request or demand; or
(C) made to an autho
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 3801
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Secretary of the Navy and, by direction of the Secretary, the Chief of Naval Research and the chiefs of bureaus may, without advertising, make contracts or amendments or modifications of contracts for services and materials necessary to conduct research and to make or secure reports, tests, models, or apparatus. A contractor supplying such services or materials need not be required to furnish a bond.
**(b)** This section does not authorize the use of the cost-plus-a-percentage-of-cost system of contracting.
Source: Supplied U.S. Code snapshot — release unconfirmed · 10 U.S.C. § 8752
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Declaration of policy** Research and development are major factors in the growth and progress of industry and the national economy. The expense of carrying on research and development programs is beyond the means of many small-business concerns, and such concerns are handicapped in obtaining the benefits of research and development programs conducted at Government expense. These small-business concerns are thereby placed at a competitive disadvantage. This weakens the competitive free enterprise system and prevents the orderly development of the national economy. It is the policy of the Congress that assistance be given to small-business concerns to enable them to undertake and to obtain the benefits of research and development in order to maintain and strengthen the competitive free enterprise system and the national economy.
**(b) Assistance to small-business concerns** It shall be the duty of the Administration, and it is empowered—
(1) to assist small-business concerns to obtain Government contracts for research and development;
(2) to assist small-business concerns to obtain the benefits of research and development performed under Government contracts or at Government expense;
(3) to provide technical assistance to small-business concerns to accomplish the purposes of this section;
(4) to develop and maintain a source file and an information program to assure each qualified and interested small business concern the opportunity to participate in Federal agency small business innovation research programs and small business technology transfer programs;
(5) to coordinate with participating agencies a schedule for release of SBIR and STTR solicitations, and to prepare a master release schedule so as to maximize small businesses’ opportunities to respond to
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 638
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** If awarded a contract under section 637(a), 637(m), 644(a), 657a, or 657f of this title, a covered small business concern—
(1) in the case of a contract for services, may not expend on subcontractors more than 50 percent of the amount paid to the concern under the contract;
(2) in the case of a contract for supplies (other than from a regular dealer in such supplies), may not expend on subcontractors more than 50 percent of the amount, less the cost of materials, paid to the concern under the contract;
(3) in the case of a contract described in paragraphs (1) and (2)—
(A) shall determine for which category, services (as described in paragraph (1)) or supplies (as described in paragraph (2)), the greatest percentage of the contract is awarded;
(B) shall determine the amount awarded under the contract for that category of services or supplies; and
(C) may not expend on subcontractors, with respect to the amount determined under subparagraph (B), more than 50 percent of that amount; and
(4) in the case of a contract which is principally for supplies from a regular dealer in such supplies, and which is not a contract principally for services or construction, shall supply the product of a domestic small business manufacturer or processor, unless a waiver of such requirement is granted—
(A) by the Administrator, after reviewing a determination by the applicable contracting officer that no small business manufacturer or processor can reasonably be expected to offer a product meeting the specifications (including period for performance) required by the contract; or
(B) by the Administrator for a product (or class of products), after determining that no small business manufacturer or processor is available to participate in the Federal procu
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 657s
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Federal law — U.S. Code and appendices · legal_authorities
It is declared to be the policy of the Congress and the purpose of this chapter to improve and stimulate the national economy in general and the small-business segment thereof in particular by establishing a program to stimulate and supplement the flow of private equity capital and long-term loan funds which small-business concerns need for the sound financing of their business operations and for their growth, expansion, and modernization, and which are not available in adequate supply: Provided, however, That this policy shall be carried out in such manner as to insure the maximum participation of private financing sources.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 661
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Aid, counsel, assistance, etc., to small business concerns** The essence of the American economic system of private enterprise is free competition. Only through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal initiative and individual judgment be assured. The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation. Such security and well-being cannot be realized unless the actual and potential capacity of small business is encouraged and developed. It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect, insofar as is possible, the interests of small-business concerns in order to preserve free competitive enterprise, to insure that a fair proportion of the total purchases and contracts or subcontracts for property and services for the Government (including but not limited to contracts or subcontracts for maintenance, repair, and construction) be placed with small-business enterprises, to insure that a fair proportion of the total sales of Government property be made to such enterprises, and to maintain and strengthen the overall economy of the Nation.
**(b) Assistance to compete in international markets**
(1) It is the declared policy of the Congress that the Federal Government, through the Administrator of the Small Business Administration, acting through the Associate Administrator for International Trade, and in cooperation with the Department of Commerce and other relevant State and Federal agencies, should aid and assist small businesses, as defined under this chapter, to increase their ability to compete in international markets by—
(A) enhancing their abil
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 631
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section—
(1) the term “Assistant Administrator” means the Assistant Administrator of the Office of Women’s Business Ownership established under subsection (g);
(2) the term “private nonprofit organization” means an entity that is described in [section 501(c) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section501/c&num=0&edition=prelim) and exempt from taxation under section 501(a) of such title;
(3) the term “small business concern owned and controlled by women”, either startup or existing, includes any small business concern—
(A) that is not less than 51 percent owned by 1 or more women; and
(B) the management and daily business operations of which are controlled by 1 or more women; and
(4) the term “women’s business center site” means the location of—
(A) a women’s business center; or
(B) 1 or more women’s business centers, established in conjunction with another women’s business center in another location within a State or region—
(i) that reach a distinct population that would otherwise not be served;
(ii) whose services are targeted to women; and
(iii) whose scope, function, and activities are similar to those of the primary women’s business center or centers in conjunction with which it was established.
**(b) Authority** The Administration may provide financial assistance to private nonprofit organizations to conduct 5-year projects for the benefit of small business concerns owned and controlled by women. The projects shall provide—
(1) financial assistance, including training and counseling in how to apply for and secure business credit and investment capital, preparing and presenting financial statements, and managing cash flow and other financial operations of a b
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 656
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Loans to small business concerns; allowable purposes; qualified business; restrictions and limitations** The Administration is empowered to the extent and in such amounts as provided in advance in appropriation Acts to make loans for plant acquisition, construction, conversion, or expansion, including the acquisition of land, material, supplies, equipment, and working capital, and to make loans to any qualified small business concern, including those owned by qualified Indian tribes, for purposes of this chapter. Such financings may be made either directly or in cooperation with banks or other financial institutions through agreements to participate on an immediate or deferred (guaranteed) basis. These powers shall be subject, however, to the following restrictions, limitations, and provisions:
(1) **In general.—**
(A) *Credit elsewhere.—*
(i) *In general.—* — The Administrator has the authority to direct, and conduct oversight for, the methods by which lenders determine whether a borrower is able to obtain credit elsewhere. No financial assistance shall be extended pursuant to this subsection if the applicant can obtain credit elsewhere. No immediate participation may be purchased unless it is shown that a deferred participation is not available; and no direct financing may be made unless it is shown that a participation is not available.
(ii) *Liquidity.—* — On and after October 1, 2015, the Administrator may not guarantee a loan under this subsection if the lender determines that the borrower is unable to obtain credit elsewhere solely because the liquidity of the lender depends upon the guaranteed portion of the loan being sold on the secondary market.
(B) *Background checks.—* — Prior to the approval of any loan made pursuant to this subsecti
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 636
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section—
(1) the terms “appropriate Federal banking agency” and “insured depository institution” have the meanings given those terms in [section 1813 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim);
(2) the term “insured credit union” has the meaning given the term in [section 1752 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1752&num=0&edition=prelim); and
(3) the term “Secretary” means the Secretary of the Treasury.
**(b) Authority to include additional financial institutions** The Department of the Treasury, in consultation with the Administrator, and the Chairman of the Farm Credit Administration shall establish criteria for insured depository institutions, insured credit unions, institutions of the Farm Credit System chartered under the Farm Credit Act of 1971 ([12 U.S.C. 2001](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2001&num=0&edition=prelim) et seq.), and other lenders that do not already participate in lending under programs of the Administration, to participate in the paycheck protection program to provide loans under this section until the date on which the national emergency declared by the President under the National Emergencies Act ([50 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section1601&num=0&edition=prelim) et seq.) with respect to the Coronavirus Disease 2019 (COVID–19) expires.
**(c) Safety and soundness** An insured depository institution, insured credit union, institution of the Farm Credit System chartered under the Farm Credit Act of 1971 ([12 U.S.C. 2001](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-secti
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 9008
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Federal law — U.S. Code and appendices · legal_authorities
Page 1002
TITLE 15—COMMERCE AND TRADE
§ 645
1 So in original. Following provision probably should be set
flush with par. (1).
(C) best practices identified under para-
graph (4) during such 1-year period.
(c) Membership
The Council shall be composed of the following
members:
(1) The Administrator of the Small Business
Administration (or the designee of the Admin-
istrator).
(2) The Director of the Minority Business
Development Agency.
(3) The head of each Office of Small and Dis-
advantaged Business Utilization in each Fed-
eral agency having procurement powers.
(d) Chairman
The Council shall be chaired by the Adminis-
trator of the Small Business Administration (or
the designee of the Administrator).
(e) Meetings
The Council shall meet at the call of the
chairman as necessary to consider proposed pro-
curement regulations affecting the small busi-
ness community.
(f) Consideration of Council comments
The Federal Acquisition Regulatory Council
and other appropriate regulatory authorities
shall consider comments submitted in a timely
manner pursuant to subsection (b)(2).
(Pub. L. 103–355, title VII, § 7104, Oct. 13, 1994, 108
Stat. 3369; Pub. L. 112–239, div. A, title XVI,
§ 1692, Jan. 2, 2013, 126 Stat. 2089.)
Editorial Notes
CODIFICATION
Section was formerly set out as a note under section
644 of this title.
Section was enacted as part of the Federal Acquisi-
tion Streamlining Act of 1994, and not as part of the
Small Business Act which comprises this chapter.
AMENDMENTS
2013—Subsec. (b)(3) to (5). Pub. L. 112–239, § 1692(a),
added pars. (3) to (5).
Subsec. (c)(3). Pub. L. 112–239, § 1692(b), struck out
‘‘(established under section 644(k) of this title)’’ after
‘‘Utilization’’.
Subsec. (d). Pub. L. 112–239, § 1692(c), inserted ‘‘(or t
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 645
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.