13 CFR 120.1715 – Seller’s Pool Loan liquidation
Current as of: 2024 | Check for updates
|
Other versions
Subject to § 120.1718 of this subpart J, the Seller must liquidate and conduct debt collection litigation for Seller’s Pool Loan in a prompt, cost-effective and commercially reasonable manner, consistent with prudent lending standards, in accordance with applicable Program Rules and Regulations, and with SBA approval of a liquidation plan and any litigation plan, and any amendment of either such a plan, if applicable.
Terms Used In 13 CFR 120.1715
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.