1. Regulations
  2. title 13
  3. chapter I
  4. part 120
  5. subpart H
  6. subjgrp 228
  7. § 120.818

View all text of Subjgrp 228 [§ 120.816 - § 120.830]

§ 120.818 - Applicability to existing for-profit CDCs.

(a) Unless expressly provided otherwise in the regulations, any Loan Program Requirement that applies to non-profit CDCs also applies to for-profit CDCs.

(b) No person or entity can own or control more than 25 percent of a for-profit CDC's stock.

[79 FR 15649, Mar. 21, 2014, as amended at 84 FR 66294, Dec. 4, 2019]

AUTHORITY: 15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), 650, 687(f), 696(3) and (7), and 697(a) and (e); sec. 521, Pub. L. 114-113, 129 Stat. 2242; sec. 328(a), Pub. L. 116-260, 134 Stat. 1182.

SOURCE: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.

CITE AS: 13 CFR 120.818