---
kind: "section"
citation: "13 C.F.R. § 108.507"
title: "13"
number: "108.507"
heading: "Violations based on false filings and nonperformance of agreements with SBA."
url: "https://uscodex.org/cfr/13/108.507"
---

# §108.507. Violations based on false filings and nonperformance of agreements with SBA.


The following shall constitute a violation of this part:

- (a) **Nonperformance.** Nonperformance of any of the requirements of any Debenture or of any written agreement with SBA.
- (b) **False statement.** In any document submitted to SBA:
  - (1) Any false statement knowingly made; or
  - (2) Any misrepresentation of a material fact; or
  - (3) **Any failure to state a material fact.** A material fact is any fact that is necessary to make a statement not misleading in light of the circumstances under which the statement was made.

## Notes

### Authority

Authority: 15 U.S.C. 689-689q.

### Source

Source: 66 FR 28609, May 23, 2001, unless otherwise noted.