---
kind: "section"
citation: "13 C.F.R. § 107.450"
title: "13"
number: "107.450"
heading: "Notification to SBA of pledge of Licensee's shares."
url: "https://uscodex.org/cfr/13/107.450"
---

# §107.450. Notification to SBA of pledge of Licensee's shares.

- (a) You must notify SBA in writing, within 30 calendar days, of the terms of any transaction in which:
  - (1) Any Person, or group of Persons acting in concert, pledges shares of your stock (or equivalent ownership interests) as collateral for indebtedness; and
  - (2) **The shares pledged are at least 10 percent of your Regulatory Capital.**
- (b) If the transaction creates a change of ownership or Control, you must comply with [§ 107.400](/cfr/13/107.400.md) or [§ 107.410](/cfr/13/107.410.md), as appropriate.

## Notes

### Authority

Authority: 15 U.S.C. 662, 681-687, 687b-h, 687k-m.

### Source

Source: 61 FR 3189, Jan. 31, 1996, unless otherwise noted.