§108.450. Notification to SBA of pledge of NMVC Company's shares.
13 C.F.R. § 108.450
You must notify SBA in writing, within 30 calendar days, of the terms of any transaction in which:
Any Person, or group of Persons acting in concert, pledges shares of your stock (or equivalent ownership interests) as collateral for indebtedness; and
The shares pledged are at least 10 percent of your Regulatory Capital.
If the transaction creates a change of ownership or Control, you must comply with § 108.400 or § 108.410, as appropriate.
Notes, amendments, and revision history
Authority
Authority: 15 U.S.C. 689-689q.
Source
Source: 66 FR 28609, May 23, 2001, unless otherwise noted.