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15 U.S.C. § 694 — Repealed. Pub. L. 100–590, title I, § 111(b), Nov. 3, 1988, 102 Stat. 2995

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 694 — Repealed. Pub. L. 100–590, title I, § 111(b), Nov. 3, 1988, 102 Stat. 2995

### Statutory Notes Section, Pub. L. 85–699, title IV, § 403, as added Pub. L. 89–117, title III, § 316(a), Aug. 10, 1965, 79 Stat. 484; amended Pub. L. 91–609, title IX, § 911(a)(3), Dec. 31, 1970, 84 Stat. 1812; Pub. L. 93–386, § 6(a)(2), Aug. 23, 1974, 88 Stat. 747; Pub. L. 94–305, title I, § 103, June 4, 1976, 90 Stat. 665; Pub. L. 95–89, title I, § 103, Aug. 4, 1977, 91 Stat. 556, provided for revolving fund for commercial or industrial lease guarantees. #### Transfer of Remaining Lease Guarantee Fund Moneys Pub. L. 100–590, title I, § 111(b), Nov. 3, 1988, 102 Stat. 2995, provided in part that: “Any moneys remaining in the Lease Guarantee Fund on the date of enactment of this Act [Nov. 3, 1988] shall be transferred to the Small Business Administration’s business loan and investment fund.”

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Source file: Laws/federal/codes/united-states-code/title-15/section-694-repealed-pub-l-100590-title-i-111-b-nov-3-1988-102-stat-2995--cdc97d42d9.md
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Source location: Title 15, Chapter 14B, § 694; chapter-14b-small-business-investment-program.md

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### Statutory Notes Section, Pub. L. 85–699, title IV, § 403, as added Pub. L. 89–117, title III, § 316(a), Aug. 10, 1965, 79 Stat. 484; amended Pub. L. 91–609, title IX, § 911(a)(3), Dec. 31, 1970, 84 Stat. 1812; Pub. L. 93–386, § 6(a)(2), Aug. 23, 1974, 88 Stat. 747; Pub. L. 94–305, title I, § 103, June 4, 1976, 90 Stat. 665; Pub. L. 95–89, title I, § 103, Aug. 4, 1977, 91 Stat. 556, provided for revolving fund for commercial or industrial lease guarantees. #### Transfer of Remaining Lease Guarantee Fund Moneys Pub. L. 100–590, title I, § 111(b), Nov. 3, 1988, 102 Stat. 2995, provided in part that: “Any moneys remaining in the Lease Guarantee Fund on the date of enactment of this Act [Nov. 3, 1988] shall be transferred to the Small Business Administration’s business loan and investment fund.”

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 631 — Declaration of policy

**(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

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 694 — Repealed. Pub. L. 100–590, title I, § 111(b),

Page 1128 TITLE 15—COMMERCE AND TRADE § 693 tive expenses that are incurred in connection therewith. (c) Escrow; default; additional discretionary pro- visions In connection with the guarantee of rentals under any lease pursuant to authority conferred by this section, the Administrator may require, in order to minimize the financial risk assumed under such guarantee— (1) that the lessee pay an amount, not to ex- ceed one-fourth of the minimum guaranteed annual rental required under the lease, which shall be held in escrow and shall be available (A) to meet rental charges accruing in any month for which the lessee is in default, or (B) if no default occurs during the term of the lease, for application (with accrued interest) toward final payments of rental charges under the lease; (2) that upon occurrence of a default under the lease, the lessor shall, as a condition precedent to enforcing any claim under the lease guarantee, utilize the entire period, for which there are funds available in escrow for payment of rentals, in reasonably diligent ef- forts to eliminate or minimize losses, by re- leasing the commercial or industrial property covered by the lease to another qualified ten- ant, and no claim shall be made or paid under the guarantee until such effort has been made and such escrow funds have been exhausted; (3) that any guarantor of the lease will be- come a successor of the lessor for the purpose of collecting from a lessee in default rentals which are in arrears and with respect to which the lessor has received payment under a guar- antee made pursuant to this section; and (4) such other provisions, not inconsistent with the purposes of this part, as the Adminis- trator may in his discretion require. (Pub. L. 85–699, title IV, §

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