§9098 — Title 15 Commerce and Trade | U.S. Code

§9098 Taxpayer protection

Title 15 › Chapter CHAPTER 116— - CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT) › Subchapter SUBCHAPTER III— - ECONOMIC STABILIZATION AND ASSISTANCE TO SEVERELY DISTRESSED SECTORS OF THE UNITED STATES ECONOMY › Part Part C— - Airline Worker Support Extension › § 9098

Last updated Apr 6, 2026|Official source

Summary

The Secretary may accept financial instruments (for example, warrants, options, preferred stock, debt securities, or notes) from a company that got help under section 4113 of the CARES Act (15 U.S.C. 9073) and also gets help under this part. As much as possible, those instruments should match the form, amount, and terms agreed with that company so the Federal Government is fairly compensated for the assistance. If a company getting help under this part did not get assistance under section 4113 (15 U.S.C. 9073), the Secretary may still take similar financial instruments. Those should, as much as possible, follow the same terms used for comparable recipients who did get help under section 4113 so the Federal Government is fairly compensated.

Title 15, §9098

Commerce and Trade — Source: USLM XML via OLRC

(a)With respect to a recipient of financial assistance under section 4113 of the CARES Act (15 U.S.C. 9073) that receives financial assistance under this part, the Secretary may receive warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by such recipient that are, to the maximum extent practicable, in the same form and amount, and under the same terms and conditions, as agreed to by the Secretary and such recipient to provide appropriate compensation to the Federal Government for the provision of the financial assistance under this part.

(b)With respect to a recipient of financial assistance under this part that did not receive financial assistance under section 4113 of the CARES Act (15 U.S.C. 9073), the Secretary may receive warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by such recipient in a form and amount that are, to the maximum extent practicable, under the same terms and conditions as agreed to by the Secretary and similarly situated recipients of financial assistance under such section to provide appropriate compensation to the Federal Government for the provision of the financial assistance under this part.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The CARES Act, referred to in subsec. (a), also known as the Coronavirus Aid, Relief, and Economic Security Act, is Pub. L. 116–136, Mar. 27, 2020, 134 Stat. 281, which enacted this chapter and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of this Act to the Code, see

Short Title

note set out under section 9001 of this title and Tables. This part, referred to in text, was in the original “this subtitle”, meaning subtitle A (§§ 401–412) of title IV of div. N of Pub. L. 116–260, Dec. 27, 2020, 134 Stat. 2052, which enacted this part and amended section 9041, 9071, and 9074 of this title. For complete classification of subtitle A to the Code, see Tables. Codification Section was enacted as part of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and also as part of the Consolidated Appropriations Act, 2021, and not as part of the CARES Act which in part comprises this chapter.