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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 15 U.S.C. § 1850 Protection of Governments interest us united_states_code code_section 15 COMMERCE AND TRADE 45 EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES 1850 15 U.S.C. § 1850 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s1850 data/legal/raw/us/code/title-15/usc15.xml 93891f05b7ba174ebd0d1216d802778e35930cfbebef35c0791fdb6f26c407be 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 4b99a67ec66500d4f021759e92b6592b8a4263e57c559a6c2f3a0416d6be1275 2026-07-04 official
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15 U.S.C. § 1850 - Protection of Governments interest

Text

(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. 9270, § 11, Aug. 9, 1971, 85 Stat. 181.)