Title 15 — Commerce and TradeRelease 119-73not60
§694c Revolving Fund for Surety Bond Guarantees
Title 15 › Chapter 14B— SMALL BUSINESS INVESTMENT PROGRAM › Subchapter IV–A— GUARANTEES › Part B— Surety Bond Guarantees › § 694c
Summary
Create a separate Treasury fund for the guarantee programs. The Administrator can use it as a revolving fund and it has no fiscal year limit. All money, property, or assets the Administrator gets from these programs must be put into the fund. Payments and expenses for the programs, except administrative costs, must come out of the fund. Any money appropriated to the fund to run the programs also has no fiscal year limit.
Full Legal Text
Title 15, §694c
Commerce and Trade — Source: USLM XML via OLRC
(a)There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under this part shall be paid from the fund.
(b)Such sums as may be appropriated to the Fund to carry out the programs authorized by this part shall be without fiscal year limitation.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1988—Pub. L. 100–590 designated existing provisions as subsec. (a) and added subsec. (b). 1980—Pub. L. 96–302 repealed investment of idle funds provision, which is covered in section 694–2 of this title. 1977—Pub. L. 95–89 prohibited payment of administrative expenses from the fund and deleted provisions which authorized: a $110,000,000 appropriation of capital for the fund; and payment during the fiscal year into the Treasury as miscellaneous receipts, from the fund, of interest on the cumulative amount of appropriations available as capital to the fund less the average undisbursed cash balance in the fund during the year. Pub. L. 95–14 substituted “$110,000,000” for “$56,500,000”. 1976—Pub. L. 94–305 substituted “$56,500,000” for “$35,000,000”.
Statutory Notes and Related Subsidiaries
Effective Date
of 1988 AmendmentAmendment by Pub. L. 100–590 effective on expiration of 180 days after Nov. 3, 1988, see section 209 of Pub. L. 100–590, set out as an Effective and Termination Dates of 1988 Amendment note under section 694b of this title.
Effective Date
of 1980 AmendmentAmendment by Pub. L. 96–302 effective Oct. 1, 1980, see section 507 of Pub. L. 96–302, set out as a note under section 631 of this title.
Effective Date
of 1977 AmendmentAmendment by Pub. L. 95–89 effective Oct. 1, 1977, see section 106 of Pub. L. 95–89, set out as a note under section 633 of this title.
Reference
Citations & Metadata
Citation
15 U.S.C. § 694c
Title 15 — Commerce and Trade
Last Updated
Apr 3, 2026
Release point: 119-73not60