13 C.F.R. § 120.820 CDC non-profit status and good standing.
Title 13 - Business Credit and Assistance
A CDC must be a non-profit corporation, except that for-profit CDCs certified by SBA prior to January 1, 1987 may retain their certifications. An SBIC may not become a CDC. A CDC must be in good standing based upon the following criteria: (a) In good standing in the State in which the CDC is incorporated and any other State in which the CDC conducts business. (b) In compliance with all laws, including taxation requirements, in the State in which the CDC is incorporated and any other State in which the CDC conducts business. [68 FR 57980, Oct. 7, 2003]
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart H—Development Company Loan Program (504)
Requirements for CDC Certification and Operation
§ 120.820 CDC non-profit status and good standing.
