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15 U.S.C. § 671 — Establishment; Associate Administrator; appointment and compensation
Federal law — U.S. Code and appendices · legal_authorities
There is hereby established in the Small Business Administration a division to be known as the Small Business Investment Division. The Division shall be headed by an Associate Administrator who shall be appointed by the Administrator, and shall receive compensation at the rate provided by law for other Associate Administrators of the Small Business Administration.
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Stable record: federal_law:legal_authorities:record_usc_c782e80d0dd64150c0ff8932
Source file: Laws/federal/codes/united-states-code/title-15/section-671-establishment-associate-administrator-appointment-and-compensation--a504bb2d48.md
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Source location: Title 15, Chapter 14B, § 671; chapter-14b-small-business-investment-program.md
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There is hereby established in the Small Business Administration a division to be known as the Small Business Investment Division. The Division shall be headed by an Associate Administrator who shall be appointed by the Administrator, and shall receive compensation at the rate provided by law for other Associate Administrators of the Small Business Administration.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation; principal, branch, and regional offices** In order to carry out the policies of this chapter there is created an agency under the name “Small Business Administration” (herein referred to as the Administration), which Administration shall be under the general direction and supervision of the President and shall not be affiliated with or be within any other agency or department of the Federal Government. The principal office of the Administration shall be located in the District of Columbia. The Administration may establish such branch and regional offices in other places in the United States as may be determined by the Administrator of the Administration. As used in this chapter, the term “United States” includes the several States, the Territories and possessions of the United States, the Commonwealth of Puerto Rico, the Trust Territory of the Pacific Islands, and the District of Columbia.
**(b) Appointment of Administrator, Deputy Administrator, and Associate Administrators; duties of Administrator: preparation of data base and publication of economic indices and annual report; risk management database; computer security and education program**
(1) The management of the Administration shall be vested in an Administrator who shall be appointed from civilian life by the President, by and with the advice and consent of the Senate, and who shall be a person of outstanding qualifications known to be familiar and sympathetic with small-business needs and problems. The Administrator shall not engage in any other business, vocation, or employment than that of serving as Administrator. In carrying out the programs administered by the Small Business Administration including its lending and guaranteeing functions, the Administrator shall not discriminate on the
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 633
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Federal law — U.S. Code and appendices · legal_authorities
Without limiting the authority conferred upon the Administrator and the Administration by [section 671 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section671&num=0&edition=prelim), the Administrator and the Administration shall have, in the performance of and with respect to the functions, powers, and duties conferred by this part, all the authority and be subject to the same conditions prescribed in [section 634(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section634/b&num=0&edition=prelim) with respect to loans, including the authority to execute subleases, assignments of lease and new leases with any person, firm, organization, or other entity, in order to aid in the liquidation of obligations of the Administration hereunder.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 693
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Federal law — U.S. Code and appendices · legal_authorities
Page 1086
TITLE 15—COMMERCE AND TRADE
§ 671
Code, see Short Title note set out under section 631 of
this title and Tables. The term ‘‘small-business con-
cern’’ is defined in section 632 of this title.
The Employee Retirement Income Security Act of
1974, referred to in par. (14), is Pub. L. 93–406, Sept. 2,
1974, 88 Stat. 829, which is classified principally to chap-
ter 18 (§ 1001 et seq.) of Title 29, Labor. For complete
classification of this Act to the Code, see Short Title
note set out under section 1001 of Title 29 and Tables.
Section 661a of title 2, referred to in par. (18)(E), was
in the original ‘‘section 502 of the Credit Reform Act of
1990’’, which was translated as reading ‘‘section 502 of
the Federal Credit Reform Act of 1990’’, to reflect the
probable intent of Congress.
AMENDMENTS
2018—Par. (20). Pub. L. 115–333 added par. (20).
2007—Pars. (18), (19). Pub. L. 110–140 added pars. (18)
and (19).
2000—Par. (5)(A)(i). Pub. L. 106–554, § 1(a)(9) [title IV,
§ 402(a)], inserted before semicolon at end ‘‘regardless of
the allocation of control during the investment period
under any investment agreement between the business
concern and the entity making the investment’’.
Par. (17). Pub. L. 106–554, § 1(a)(9) [title IV, § 402(b)],
added par. (17).
1999—Par. (5). Pub. L. 106–9, § 2(c)(1), designated exist-
ing provisions after ‘‘for purposes of this chapter’’ as
subpar. (A), redesignated former subpars. (A) to (C) as
cls. (i) to (iii), respectively, and added subpar. (B).
Par. (12)(A)(ii). Pub. L. 106–9, § 2(c)(2), inserted before
‘‘; or’’: ‘‘except that, for purposes of this clause, if the
business concern is not required by law to pay Federal
income taxes at the enterprise level, but is required to
pass income through to the sharehol
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 671
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