Title 15, Commerce and TradeRelease 119-110
§1850 Protection of Government’s Interest
Title 15 › CHAPTER 45 — EMERGENCY LOAN GUARANTEES TO BUSINESS ENTERPRISES › § 1850
Summary
The Attorney General must act to protect the United States' rights that come from guarantees made under this law. Any money recovered must be paid into the emergency loan guarantee fund. The Board can get back from the borrower or anyone else responsible any amount it paid under a guarantee, and after paying it takes the same rights the paid person had.
Full Legal Text
Title 15, §1850
Commerce and Trade, Source: USLM XML via OLRC
(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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 1850
Title 15, Commerce and Trade
Last Updated
Sep 22, 2026
Release point: 119-110