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15 U.S.C. § 687m — Periodic issuance of guarantees and trust certificates
Federal law — U.S. Code and appendices · legal_authorities
The Administration shall issue guarantees under [section 683 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section683&num=0&edition=prelim) and trust certificates under section 687l of this title at periodic intervals of not less than every 12 months and shall do so at such shorter intervals as its 11 So in original. Probably should be “it”. deems appropriate, taking into consideration the amount and number of such guarantees or trust certificates.
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Source file: Laws/federal/codes/united-states-code/title-15/section-687m-periodic-issuance-of-guarantees-and-trust-certificates--c6c040fb00.md
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Source location: Title 15, Chapter 14B, § 687m; chapter-14b-small-business-investment-program.md
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The Administration shall issue guarantees under [section 683 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section683&num=0&edition=prelim) and trust certificates under section 687l of this title at periodic intervals of not less than every 12 months and shall do so at such shorter intervals as its 11 So in original. Probably should be “it”. deems appropriate, taking into consideration the amount and number of such guarantees or trust certificates.
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Federal law — U.S. Code and appendices · legal_authorities
Nothing in any provision of law shall be construed to authorize the Federal Financing Bank to acquire after September 30, 1985—
(1) any obligation the payment of principal or interest on which has at any time been guaranteed in whole or in part under this subchapter,
(2) any obligation which is an interest in any obligation described in paragraph (1), or
(3) any obligation which is secured by, or substantially all of the value of which is attributable to, any obligation described in paragraph (1) or (2).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority to issue obligations** Each small business investment company shall have authority to borrow money and to issue its securities, promissory notes, or other obligations under such general conditions and subject to such limitations and regulations as the Administration may prescribe.
**(b) Debentures and participating securities** To encourage the formation and growth of small business investment companies the Administration is authorized when authorized in appropriation Acts, to purchase, or to guarantee the timely payment of all principal and interest as scheduled on, debentures or participating securities issued by such companies. Such purchases or guarantees may be made by the Administration on such terms and conditions as it deems appropriate, pursuant to regulations issued by the Administration. The full faith and credit of the United States is pledged to the payment of all amounts which may be required to be paid under any guarantee under this subsection. Debentures purchased or guaranteed by the Administration under this subsection shall be subordinate to any other debenture bonds, promissory notes, or other debts and obligations of such companies, unless the Administration in its exercise of reasonable investment prudence and in considering the financial soundness of such company determines otherwise. Such debentures may be issued for a term of not to exceed fifteen years and shall bear interest at a rate not less than a rate determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the average maturities on such debentures, adjusted to the nearest one-eighth of 1 percent, plus, for debentures obl
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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
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Federal law — U.S. Code and appendices · legal_authorities
Page 1114
TITLE 15—COMMERCE AND TRADE
§ 687m
1 So in original. Probably should be ‘‘it’’.
1 So in original. Probably should be capitalized.
substituting provisions relating to small business in-
vestment company for provisions relating to develop-
ment company and requiring prioritized payment rate
to be included in central registration requirements, and
in par. (2) inserting provisions relating to participating
securities, contracts to carry out pooling, and mainte-
nance of commercial bank accounts.
1989—Subsec. (a). Pub. L. 101–162 inserted ‘‘, including
companies operating under the authority of section
681(d) of this title,’’ after ‘‘investment companies’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by section 205 of Pub. L. 104–208 effective
Oct. 1, 1996, see section 3 of Pub. L. 104–208, set out as
a note under section 633 of this title.
Amendment by section 208 of Pub. L. 104–208 effective
Sept. 30, 1996, see section 208(j) of Pub. L. 104–208, set
out as a note under section 634 of this title.
REGULATIONS
Pub. L. 99–272, title XVIII, § 18005(b), Apr. 7, 1986, 100
Stat. 365, provided that:
‘‘(1) Notwithstanding any law, rule, or regulation,
within 60 days after the date of the enactment of this
Act [Apr. 7, 1986], the Small Business Administration
shall develop and promulgate final rules and regula-
tions to implement the central registration provisions
provided for in section 321(f)(1) of the Small Business
Investment Act [15 U.S.C. 687l(f)(1)], and shall contract
with an agent for an initial period of not to exceed two
years to carry out the functions provided for in sec-
tions 321(f)(2) and 321(f)(3) of such Act.
‘‘(2) Notwithstanding any law, rule, or regulation,
within 60 days after the da
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