13 C.F.R. § 120.630 Qualifications to be a Pool Assembler.
Title 13 - Business Credit and Assistance
(a) Application to become Pool Assembler. The application to become a Pool Assembler is available from the AA/FA. In order to qualify as a Pool Assembler, an entity must send the application to the AA/FA, with an application fee, and certify that it: (1) Is regulated by the appropriate agency as defined in section 3(a)(34)(G) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(34)(G)); (2) Meets all financial and other applicable requirements of its regulatory authority and the Government Securities Act of 1986, as amended (Pub. L. 99–571, 100 Stat. 3208); (3) Has the financial capability to assemble acceptable and eligible guaranteed loan portions in sufficient quantity to support the issuance of Pool Certificates; and (4) Is in good standing with SBA (as the AA/FA determines), the Office of the Comptroller of the Currency (“OCC”) if it is a national bank, the Federal Deposit Insurance Corporation if it is a bank not regulated by the OCC, or the National Association of Securities Dealers if it is a member. (b) Approval by SBA. An entity may not submit Pool applications to the FTA until SBA has approved the application to become a Pool Assembler. (c) Conduct of business by Pool Assembler. An entity continues to qualify as a Pool Assembler so long as it: (1) Meets the eligibility standards in paragraph (a) of this section; (2) Conducts its business in accordance with SBA regulations and accepted securities or banking industry practices, ethics, and standards; and (3) Maintains its books and records in accordance with generally accepted accounting principles or in accordance with the guidelines of the regulatory body governing its activities.
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart F—Secondary Market
Pool Assemblers
§ 120.630 Qualifications to be a Pool Assembler.