§106.501. What minimum requirements are applicable to SBA's solicitation and/or acceptance of Gifts?
13 C.F.R. § 106.501
While SBA may subject the solicitation and/or acceptance of Gifts to additional requirements through internal policy and procedure, the following requirements must apply to all Gift solicitations and/or acceptances under the authority of the Small Business Act sections cited in § 106.500:
SBA is required to use the Gift (whether cash or in-kind) in a manner consistent with the original purpose of the Gift;
There must be written documentation of each Gift solicitation and/or acceptance signed by an authorized SBA official;
Any Gift solicited and/or accepted must undergo a determination, prior to solicitation of the Gift or prior to acceptance of the Gift if unsolicited, of whether a conflict of interest exists between the Donor and SBA; and
All cash Gifts donated to SBA under the authority cited in § 106.500 must be deposited in an SBA trust account at the U.S. Department of the Treasury.
Notes, amendments, and revision history
Authority
Authority: 15 U.S.C. 633 (g) and (h); 15 U.S.C. 637(b)(1)(A); 15 U.S.C. 637(b)(G).
Source
Source: 70 FR 70704, Nov. 23, 2005, unless otherwise noted.