§3743. Liability on loans
Enacted 1981 · amended 2 times, last in 1991 · reading the current textFull lineage →
As of today
38 U.S.C. § 3743
Each individual who has an ownership interest in a veterans’ small business concern that is provided a direct loan under this subchapter, or that obtains a loan guaranteed under this subchapter, shall execute a note or other document evidencing the direct or guaranteed business loan, and such individuals shall be jointly and severally liable to the United States for the amount of such direct loan or, in the case of a guaranteed loan, for any amount paid by the Secretary on account of such loan.
Notes, amendments, and revision history
(Added Pub. L. 97–72, title III, § 302(a), Nov. 3, 1981, 95 Stat. 1057, § 1843; amended Pub. L. 101–237, title III, § 313(b)(1), Dec. 18, 1989, 103 Stat. 2077; renumbered § 3743, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
Editorial Notes
Amendments
1991—Pub. L. 102–83 renumbered section 1843 of this title as this section.
1989—Pub. L. 101–237 substituted “Secretary” for “Administrator”.