§4290.507. Violations based on false filings and nonperformance of agreements with the Agency or SBA.

7 C.F.R. § 4290.507

The following shall constitute a violation of this part:

(a)

Nonperformance. Failure to perform any of the requirements of any Debenture or of any written agreement with the Agency or SBA.

(b)

False statement. In any document submitted to the Agency or SBA:

(1)

Any false statement knowingly made; or

(2)

Any misrepresentation of a material fact; or

(3)

Any failure to state a material fact.

(4)

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, amendments, and revision history

Authority: 7 U.S.C. 1989 and 2009cc et seq.

Source: 69 FR 32204, June 8, 2004, unless otherwise noted.