§ 1850. — Protection of Government's interest.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1850]
TITLE 15--COMMERCE AND TRADE
CHAPTER 45--EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES
Sec. 1850. Protection of Government's interest
(a) Attorney General, enforcement authority; payments into emergency
loan guarantee fund
The Attorney General shall take such action as may be appropriate to
enforce any right accruing to the United States or any officer or agency
thereof as a result of the issuance of guarantees under this chapter.
Any sums recovered pursuant to this section shall be paid into the
emergency loan guarantee fund.
(b) Recovery rights; subrogation
The Board shall be entitled to recover from the borrower, or any
other person liable therefor, the amount of any payments made pursuant
to any guarantee agreement entered into under this chapter, and upon
making any such payment, the Board shall be subrogated to all the rights
of the recipient thereof.
(Pub. L. 92-70, Sec. 11, Aug. 9, 1971, 85 Stat. 181.)
