15 U.S.C. § 690j — Federal Financing Bank

Page 1126 TITLE 15—COMMERCE AND TRADE § 690i 1 So in original. The article probably should not appear. 2 So in original. Probably should be ‘‘than’’. 1 So in original. Probably should be ‘‘of’’. (B) Repayment by companies not approved If a company receives a grant under this paragraph and does not enter into a partici- pation agreement for final approval, the company shall, subject to controlling Fed- eral law, repay the amount of the grant to the Administrator. (C) Deduction of grant to approved company If a company receives a grant under this paragraph and receives final approval under section 690c(e) of this title, the Adminis- trator shall deduct the amount of the grant from the total grant amount the company receives for operational assistance. (D) Amount of grant No company may receive a grant of more than $100,000 under this paragraph. (b) Supplemental grants (1) In general The Administrator may make supplemental grants to Renewable Fuel Capital Investment companies and to other entities, as authorized by this part, under such terms as the Adminis- trator may require, to provide additional oper- ational assistance to smaller enterprises fi- nanced, or expected to be financed, by the companies. (2) Matching requirement The Administrator may require, as a condi- tion of any supplemental grant made under this subsection, that the company or entity receiving the grant provide from resources (in a 1 cash or in kind), other then 2 those provided by the Administrator, a matching contribu- tion equal to the amount of the supplemental grant. (c) Limitation None of the assistance made available under this section may be used for any overhead or general and administrative expense of a Renew- able Fuel Capital Investment company. (Pub. L. 85–699, title III, § 389, as added Pub. L. 110–140, title XII, § 1207, Dec. 19, 2007, 121 Stat. 1781.) § 690i. Bank participation (a) In general Except as provided in subsection (b), any na- tional bank, any member bank of the Federal Reserve System, and (to the extent permitted under applicable State law) any insured bank that is not a member of such system, may invest in any Renewable Fuel Capital Investment com- pany, or in any entity established to invest sole- ly in Renewable Fuel Capital Investment compa- nies. (b) Limitation No bank described in subsection (a) may make investments described in such subsection that are greater than 5 percent of the capital and sur- plus of the bank. (Pub. L. 85–699, title III, § 390, as added Pub. L. 110–140, title XII, § 1207, Dec. 19, 2007, 121 Stat. 1782.) § 690j. Federal Financing Bank Notwithstanding section 687k of this title, the Federal Financing Bank may acquire a deben- ture issued by a Renewable Fuel Capital Invest- ment company under this part. (Pub. L. 85–699, title III, § 391, as added Pub. L. 110–140, title XII, § 1207, Dec. 19, 2007, 121 Stat. 1782.) § 690k. Reporting requirement Each Renewable Fuel Capital Investment com- pany that participates in the program estab- lished under this part shall provide to the Ad- ministrator such information as the Adminis- trator may require, including— (1) information related to the measurement criteria that the company proposed in its pro- gram application; and (2) in each case in which the company makes, under this part, an investment in, or a loan or a grant to, a business that is not pri- marily engaged in the research, development, manufacture, or bringing to market or 1 re- newable energy sources, a report on the na- ture, origin, and revenues of the business in which investments are made. (Pub. L. 85–699, title III, § 392, as added Pub. L. 110–140, title XII, § 1207, Dec. 19, 2007, 121 Stat. 1782.) § 690l. Examinations (a) In general Each Renewable Fuel Capital Investment com- pany that participates in the program estab- lished under this part shall be subject to exami- nations made at the direction of the Investment Division of the Administration in accordance with this section. (b) Assistance of private sector entities Examinations under this section may be con- ducted with the assistance of a private sector entity that has both the qualifications and the expertise necessary to conduct such examina- tions. (c) Costs (1) Assessment (A) In general The Administrator may assess the cost of examinations under this section, including compensation of the examiners, against the company examined. (B) Payment Any company against which the Adminis- trator assesses costs under this paragraph shall pay such costs. (2) Deposit of funds Funds collected under this section shall be deposited in the account for salaries and ex- penses of the Administration. (Pub. L. 85–699, title III, § 393, as added Pub. L. 110–140, title XII, § 1207, Dec. 19, 2007, 121 Stat. 1782.)