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25 U.S.C. § 1511 — Supplemental surety bond guarantee

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

25 U.S.C. § 1511 — Supplemental surety bond guarantee

**(a) Amount; eligibility** The Secretary is authorized to provide a supplemental surety bond guarantee, not to exceed 20 percent of any loss, for any Indian individual or economic enterprise eligible for a surety guarantee under [section 694b of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section694b&num=0&edition=prelim), so that the aggregate of the two guarantees is 100 percent. **(b) Conditions** The Secretary may provide a supplemental guarantee under this section only if the Secretary determines that— (1) the Indian individual or economic enterprise has secured or will likely secure a surety bond guarantee under [section 694b of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section694b&num=0&edition=prelim); (2) the supplemental guarantee is necessary for the Indian individual or economic enterprise to secure a surety bond; (3) no more than 25 percent of the surety’s business is comprised of bonds guaranteed pursuant to this section; and (4) the surety will provide appropriate technical assistance and advice to, and monitor the performance of, the Indian individual or economic enterprise for the prevention or mitigation of a loss. **(c) Fees and charges** The rules and regulations promulgated by the Secretary to carry out this section shall include the setting of reasonable fees to be paid by the Indian individual or economic enterprise and reasonable premium charges to be paid by sureties. In setting fees and charges, the Secretary may take into consideration the cost to the surety of providing the services required by paragraph (4) of subsection (b). The receipts from the fees and charges shall be deposited in the Fund established by [section 1497(a) of this title](https://uscode.house.go

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Source file: Laws/federal/codes/united-states-code/title-25/section-1511-supplemental-surety-bond-guarantee--7432a03ed1.md
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Source location: Title 25, Chapter 17, § 1511; chapter-017-financing-economic-development-of-indians-and-indian-organizations.md

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

25 U.S.C. § 1498 — Powers of Secretary; finality of financial transactions and property acquisitions, management, and dispositions

The financial transactions of the Secretary incident to or arising out of the guarantee or insurance of loans and surety bonds, and the acquisition, management, and disposition of property, real, personal, or mixed, incident to such activities, shall be final and conclusive upon all officers of the Government. With respect to matters arising out of the guaranty or insurance program authorized by this subchapter, and notwithstanding the provisions of any other laws, the Secretary may— **(a)** sue and be sued in his official capacity in any court of competent jurisdiction; **(b)** subject to the specific limitations in this subchapter, consent to the modification, with respect to the rate of interest, time of payment on principal or interest or any portion thereof, security, or any other provisions of any note, contract, mortgage, or other instrument securing a loan or surety bond which has been guaranteed or insured hereunder; **(c)** subject to the specific limitations in this subchapter, pay, or compromise, any claim on, or arising because of any loan or surety bond guaranty or insurance; **(d)** subject to the specific limitations in this subchapter, pay, compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including, but not limited to, any equity or right of redemption; **(e)** purchase at any sale, public or private, upon such terms and for such prices as he determines to be reasonable, and take title to property, real, personal, or mixed; and similarly sell, at public or private sale, exchange, assign, convey, or otherwise dispose of such property; and **(f)** complete, administer, operate, obtain, and pay for insurance on, and maintain, renovate, repair, modernize, lease, or otherwise deal with any property acquired or h

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

15 U.S.C. § 694b — Surety bond guarantees

**(a) Authority of Administration to guarantee surety against loss from principal’s breach of bond** (1) (A) The Administration may, upon such terms and conditions as it may prescribe, guarantee and enter into commitments to guarantee any surety against loss resulting from a breach of the terms of a bid bond, payment bond, performance bond, or bonds ancillary thereto, by a principal on any total work order or contract amount at the time of bond execution that does not exceed $6,500,000, as adjusted for inflation in accordance with [section 1908 of title 41](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title41-section1908&num=0&edition=prelim). (B) The Administrator may guarantee a surety under subparagraph (A) for a total work order or contract amount that does not exceed $10,000,000, if a contracting officer of a Federal agency certifies that such a guarantee is necessary. (2) The terms and conditions of said guarantees and commitments may vary from surety to surety on the basis of the Administration’s experience with the particular surety. (3) The Administration may authorize any surety, without further administration approval, to issue, monitor, and service such bonds subject to the Administration’s guarantee. (4) No such guarantee may be issued, unless— (A) the person who would be principal under the bond is a small business concern; (B) the bond is required in order for such person to bid on a contract, or to serve as a prime contractor or subcontractor thereon; (C) such person is not able to obtain such bond on reasonable terms and conditions without a guarantee under this section; and (D) there is a reasonable expectation that such principal will perform the covenants and conditions of the contract with respect to which such

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

25 U.S.C. § 1464 — Administration as single Indian Revolving Loan Fund sums from diverse sources; availability of fund for loans to Indians and for administrative expenses

In order to provide credit that is not available from private money markets, or to supplement funds from private lenders, including loans guaranteed by the Secretary pursuant to [section 1481 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1481&num=0&edition=prelim), all funds that are now or hereafter a part of the revolving fund authorized by the Act of June 18, 1934 (48 Stat. 986) [[25 U.S.C. 5101](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section5101&num=0&edition=prelim) et seq.], the Act of June 26, 1936 (49 Stat. 1968),11 So in original. Probably should be “(49 Stat. 1967),”. and the Act of April 19, 1950 (64 Stat. 44), as amended and supplemented, including sums received in settlement of debts of livestock pursuant to sections 1545 and 1546 of this title, and sums collected in repayment of loans heretofore or hereafter made, and as interest or other charges on loans, shall hereafter be administered as a single Indian Revolving Loan Fund. The fund shall be available for loans to Indians having a form of organization that is satisfactory to the Secretary and for loans to individual Indians: Provided, That, where the Secretary determines a rejection of a loan application from a member of an organization making loans to its membership from moneys borrowed from the fund is unwarranted, he may, in his discretion, make a direct loan to such individual from the fund. The fund shall also be available for administrative expenses incurred in connection therewith, or, in the discretion of the Secretary of the Interior, as a contribution to the Indian Loan Guaranty and Insurance Fund authorized by [section 1497 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1497&

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

25 U.S.C. § 1511 — Interest subsidies; rules and regulations

Page 237 TITLE 25—INDIANS § 1541 SUBCHAPTER III—INTEREST SUBSIDIES AND ADMINISTRATIVE EXPENSES § 1511. Interest subsidies; rules and regulations The Secretary is authorized under such rules and regulations as he may prescribe to pay as an interest subsidy on loans which are guaranteed or insured under the provisions of subchapter II of this chapter amounts which are necessary to reduce the rate payable by the borrower to the rate determined under section 1464 of this title. (Pub. L. 93–262, title III, § 301, Apr. 12, 1974, 88 Stat. 82.) § 1512. Authorization of appropriations for inter- est payments There are authorized to be appropriated for fiscal year 1985, and for each fiscal year there- after, an amount which does not exceed $5,500,000 for purposes of making interest pay- ments authorized under this subchapter. Sums appropriated under this section, shall remain available until expended. (Pub. L. 93–262, title III, § 302, Apr. 12, 1974, 88 Stat. 82; Pub. L. 98–449, § 8, Oct. 4, 1984, 98 Stat. 1725.) Editorial Notes AMENDMENTS 1984—Pub. L. 98–449 amended section generally, sub- stituting provisions authorizing appropriations for pay- ment of interest under this subchapter for provisions authorizing appropriations for the Indian Loan Guar- antee and Insurance Fund, interest subsidies and ad- ministrative expenses. SUBCHAPTER IV—INDIAN BUSINESS GRANTS § 1521. Indian Business Development Program; establishment; statement of purpose There is established within the Department of the Interior the Indian Business Development Program whose purpose is to stimulate and in- crease Indian entrepreneurship and employment by providing equity capital through non- reimbursable grants made by the Secretary of the Interior to Indians and India

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