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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 25 U.S.C. § 1497a Supplemental surety bond guarantee us united_states_code code_section 25 INDIANS 17 FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS 1497a 25 U.S.C. § 1497a current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc25@119-100.zip /us/usc/t25/s1497a data/legal/raw/us/code/title-25/usc25.xml 831e84cbf3b5b0f04e3b1c364015a5655ea2cc2fbf2f1e586142b43449226253 d4661d83bff6862be548ac8e843ba61e942ed983aade7cf83cb7dbc3dcd08168 6cf6cc232fcd7c53991eb251fb21fe62907a770f84555c40117598613db1527c 2026-07-04 official
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25 U.S.C. § 1497a - Supplemental surety bond guarantee

Text

(a) Amount; eligibility The Secretary is authorized to provide a supplemental surety bond guarantee, not to exceed 20 percent of any loss, for any Indian individual or economic enterprise eligible for a surety guarantee under section 694b of title 15, so that the aggregate of the two guarantees is 100 percent.

(b) Conditions The Secretary may provide a supplemental guarantee under this section only if the Secretary determines that—

(1) the Indian individual or economic enterprise has secured or will likely secure a surety bond guarantee under section 694b of title 15;

(2) the supplemental guarantee is necessary for the Indian individual or economic enterprise to secure a surety bond;

(3) no more than 25 percent of the suretys business is comprised of bonds guaranteed pursuant to this section; and

(4) the surety will provide appropriate technical assistance and advice to, and monitor the performance of, the Indian individual or economic enterprise for the prevention or mitigation of a loss.

(c) Fees and charges The rules and regulations promulgated by the Secretary to carry out this section shall include the setting of reasonable fees to be paid by the Indian individual or economic enterprise and reasonable premium charges to be paid by sureties. In setting fees and charges, the Secretary may take into consideration the cost to the surety of providing the services required by paragraph (4) of subsection (b). The receipts from the fees and charges shall be deposited in the Fund established by section 1497(a) of this title.

(Pub. L. 93262, title II, § 218, as added Pub. L. 100442, § 5(a), Sept. 22, 1988, 102 Stat. 1764.)

Notes

Editorial Notes

Prior ProvisionsA prior section 218 of Pub. L. 93262 was renumbered section 219 by Pub. L. 100442 and is classified to section 1498 of this title.