Title 15 — Commerce and TradeRelease 119-73
§1850 Protection of Government’s interest
Title 15 › Chapter CHAPTER 45— - EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES › § 1850
Summary
The Attorney General must enforce any rights the United States or its agencies get from guarantees. Any money recovered must be paid into the emergency loan guarantee fund. The Board can recover from the borrower or anyone responsible the amounts it paid under a guarantee, and after paying it gets the legal rights the original recipient had.
Full Legal Text
Title 15, §1850
Commerce and Trade — Source: USLM XML via OLRC
(a)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)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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 1850
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73