§ 642. — Requirements for loans.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC642]
TITLE 15--COMMERCE AND TRADE
CHAPTER 14A--AID TO SMALL BUSINESS
Sec. 642. Requirements for loans
No loan shall be made or equipment, facilities, or services
furnished by the Administration under this chapter to any business
enterprise unless the owners, partners, or officers of such business
enterprise (1) certify to the Administration the names of any attorneys,
agents, or other persons engaged by or on behalf of such business
enterprise for the purpose of expediting applications made to the
Administration for assistance of any sort, and the fees paid or to be
paid to any such persons; (2) execute an agreement binding any such
business enterprise for a period of two years after any assistance is
rendered by the Administration to such business enterprise, to refrain
from employing, tendering any office or employment to, or retaining for
professional services, any person who, on the date such assistance or
any part thereof was rendered, or within one year prior thereto, shall
have served as an officer, attorney, agent, or employee of the
Administration occupying a position or engaging in activities which the
Administration shall have determined involve discretion with respect to
the granting of assistance under this chapter; and (3) furnish the names
of lending institutions to which such business enterprise has applied
for loans together with dates, amounts, terms, and proof of refusal.
(Pub. L. 85-536, Sec. 2[13], July 18, 1958, 72 Stat. 394.)
Prior Provisions
Prior similar provisions were contained in section 219 of act July
30, 1953, ch. 282, title II, 67 Stat. 239, which was previously
classified to section 648 of this title. The provisions of section 213
of act July 30, 1953, formerly classified to this section, were
transferred to section 2[8] of Pub. L. 85-536, and are classified to
section 637(b)(6), (7) of this title. See Codification note set out
under section 631 of this title.
Section Referred to in Other Sections
This section is referred to in section 687 of this title.
