Subchapter I General Provisions
Subchapter II Small Business Investment Division of Small Business Administration
Subchapter III Investment Division Programs
Subchapter IV-A Guarantees
Subchapter V Loans to State and Local Development Companies

Terms Used In U.S. Code > Title 15 > Chapter 14B - Small Business Investment Program

  • Administration: means the Small Business Administration. See 15 USC 662
  • Administrator: means the Administrator of the Small Business Administration. See 15 USC 662
  • Administrator: means the Administrator of the Environmental Protection Agency. See 15 USC 2602
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • affiliate: shall include any corporation, business trust, association, or other similar organization--

    (1) Of which a member bank, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 per centum of the number of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions. See 12 USC 221a

  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • applicable program: means any program for which the Secretary or the Department has administrative responsibility as provided by law or by delegation of authority pursuant to law. See 20 USC 1221
  • applicant: means with respect to activities described in section 3984(a) of this title an institution of higher education and the other participants described in paragraph (3) of section 3984(a) of this title, and with respect to activities described in section 3984(b) of this title a local educational agency and the other participants described in paragraph (3) of section 3984(b) of this title. See 20 USC 3982
  • applicant: means a corporation applying for the right to establish, operate, and maintain a foreign-trade zone. See 19 USC 81a
  • Arrest: Taking physical custody of a person by lawful authority.
  • articles: means articles of incorporation for an incorporated body and means the functional equivalent or other similar documents specified by the Administrator for other business entities. See 15 USC 662
  • association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • bid bond: means a bond conditioned upon the bidder on a contract entering into the contract, if he receives the award thereof, and furnishing the prescribed payment bond and performance bond. See 15 USC 694a
  • Board: means the Board which is established to carry out the provisions of this chapter. See 19 USC 81a
  • chemical substance: means any organic or inorganic substance of a particular molecular identity, including--

    (i) any combination of such substances occurring in whole or in part as a result of a chemical reaction or occurring in nature, and

    (ii) any element or uncombined radical. See 15 USC 2602

  • children: means individuals who have not attained the age of 18. See 20 USC 6082
  • Cloture: The only procedure by which the Senate can vote to place a time limit on consideration of a bill or other matter, and thereby overcome a filibuster. Under the cloture rule (Rule XXII), the Senate may limit consideration of a pending matter to 30 additional hours, but only by vote of three-fifths of the full Senate, normally 60 votes.
  • commerce: means trade, traffic, transportation, or other commerce (A) between a place in a State and any place outside of such State, or (B) which affects trade, traffic, transportation, or commerce described in clause (A). See 15 USC 2602
  • Commission: means the United States International Trade Commission. See 19 USC 3002
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • conditions of use: means the circumstances, as determined by the Administrator, under which a chemical substance is intended, known, or reasonably foreseen to be manufactured, processed, distributed in commerce, used, or disposed of. See 15 USC 2602
  • construction: includes construction and initial equipment of new buildings, and expansion, remodeling, and alteration of existing buildings and equipment therein, including architect's services, but excluding off-site improvements. See 20 USC 4351
  • continental United States: means the States of the United States and the District of Columbia. See 12 USC 221
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Convention: means the International Convention on the Harmonized Commodity Description and Coding System, done at Brussels on June 14, 1983, and the Protocol thereto, done at Brussels on June 24, 1986, submitted to the Congress on June 15, 1987. See 19 USC 3002
  • Conviction: A judgement of guilt against a criminal defendant.
  • copies: includes the material object, other than a phonorecord, in which the work is first fixed. See 17 USC 101
  • corporation: means a public corporation and a private corporation, as defined in this chapter. See 19 USC 81a
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Department of Education. See 20 USC 1221
  • Department: means the Department of Education or any component thereof. See 20 USC 3404
  • Dependent: A person dependent for support upon another.
  • development companies: means enterprises incorporated under State law with the authority to promote and assist the growth and development of small-business concerns in the areas covered by their operations. See 15 USC 662
  • Devise: To gift property by will.
  • digital literacy skills: means the skills associated with--

    (A) using technology to enable users to find, evaluate, organize, create, and communicate information. See 20 USC 9101

  • Director: means the Director of the Institute appointed under section 9103 of this title. See 20 USC 9101
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • distribution in commerce: when used to describe an action taken with respect to a chemical substance or mixture or article containing a substance or mixture mean to sell, or the sale of, the substance, mixture, or article in commerce. See 15 USC 2602
  • Docket: A log containing brief entries of court proceedings.
  • Donor: The person who makes a gift.
  • Energy Saving qualified investment: means investment in a small business concern that is primarily engaged in researching, manufacturing, developing, or providing products, goods, or services that reduce the use or consumption of non-renewable energy resources. See 15 USC 662
  • entered: means entered, or withdrawn from warehouse for consumption, in the customs territory of the United States. See 19 USC 3002
  • environment: includes water, air, and land and the interrelationship which exists among and between water, air, and land and all living things. See 15 USC 2602
  • equipment: includes machinery, utilities, and built-in equipment and any necessary enclosures or structures to house them, and includes all other items necessary for the functioning of a particular facility as a facility for the provision of educational services, including items such as instructional equipment and necessary furniture, printed, published, and audio-visual instructional materials, and books, periodicals, documents, and other related materials. See 20 USC 3982
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Ex officio: Literally, by virtue of one's office.
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal agency: means any establishment in the executive branch of the United States Government. See 19 USC 3002
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Forbearance: A means of handling a delinquent loan. A
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • function: includes any duty, obligation, power, authority, responsibility, right, privilege, activity, or program. See 20 USC 3404
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • grantee: means a corporation to which the privilege of establishing, operating, and maintaining a foreign-trade zone has been granted. See 19 USC 81a
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • guidance: means any significant written guidance of general applicability prepared by the Administrator. See 15 USC 2602
  • health and safety study: means any study of any effect of a chemical substance or mixture on health or the environment or on both, including underlying information and epidemiological studies, studies of occupational exposure to a chemical substance or mixture, toxicological, clinical, and ecological studies of a chemical substance or mixture, and any test performed pursuant to this chapter. See 15 USC 2602
  • historical park: means the Weir Farm National Historical Park established in section 410ffff-2 of this title. See 16 USC 410ffff
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • indoor facility: means a building that is enclosed. See 20 USC 6082
  • Institute: means the Institute of Museum and Library Services established under section 9102 of this title. See 20 USC 9101
  • institution of higher education: means an educational institution in any State which (A) admits as regular students only individuals having a certificate of graduation from a school providing secondary education, or the recognized equivalent of such a certificate. See 20 USC 4351
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Layover: Informal term for a period of delay required by rule. For example, when a bill or other measure is reported from committee, it may be considered on the floor only after it "lies over" for one legislative day and after the written report has been available for two calendar days. Layover periods may be waived by unanimous consent.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • leverage: includes --

    (A) debentures purchased or guaranteed by the Administration. See 15 USC 662

  • levy: includes the power of distraint and seizure by any means. See 26 USC 7701
  • library: includes --

    (A) a public library. See 20 USC 9122

  • license: means a license issued by the Administration as provided in section 681 of this title. See 15 USC 662
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • limited liability company: means a business entity that is organized and operating in accordance with a State limited liability company statute approved by the Administration. See 15 USC 662
  • Lineal descendant: Direct descendant of the same ancestors.
  • manufacture: means to import into the customs territory of the United States (as defined in general note 2 of the Harmonized Tariff Schedule of the United States), produce, or manufacture. See 15 USC 2602
  • marriage: means only a legal union between one man and one woman as husband and wife, and the word "spouse" refers only to a person of the opposite sex who is a husband or a wife. See 1 USC 7
  • member: means , with respect to a licensee that is a limited liability company, a holder of an ownership interest or a person otherwise admitted to membership in the limited liability company. See 15 USC 662
  • migratory agricultural worker: means an individual who made a qualifying move in the preceding 36 months and, after doing so, engaged in new temporary or seasonal employment or personal subsistence in agriculture, which may be dairy work or the initial processing of raw agricultural products. See 20 USC 6399
  • migratory child: means a child or youth who made a qualifying move in the preceding 36 months--

    (A) as a migratory agricultural worker or a migratory fisher. See 20 USC 6399

  • migratory fisher: means an individual who made a qualifying move in the preceding 36 months and, after doing so, engaged in new temporary or seasonal employment or personal subsistence in fishing. See 20 USC 6399
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • mixture: means any combination of two or more chemical substances if the combination does not occur in nature and is not, in whole or in part, the result of a chemical reaction. See 15 USC 2602
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • new chemical substance: means any chemical substance which is not included in the chemical substance list compiled and published under section 2607(b) of this title. See 15 USC 2602
  • NTID: means the National Technical Institute for the Deaf. See 20 USC 4351
  • obligee: means (A) in the case of a bid bond, the person requesting bids for the performance of a contract, or (B) in the case of a payment bond or performance bond, the person who has contracted with a principal for the completion of the contract and to whom the obligation of the surety runs in the event of a breach by the principal of the conditions of a payment bond or performance bond. See 15 USC 694a
  • obscene: means , with respect to a project, that--

    (A) the average person, applying contemporary community standards, would find that such project, when taken as a whole, appeals to the prurient interest. See 20 USC 9101

  • office: includes any office, institute, council, unit, organizational entity, or component thereof. See 20 USC 3404
  • old Schedules: means title I of the Tariff Act of 1930 (19 U. See 19 USC 3002
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • payment bond: means a bond conditioned upon the payment by the principal of money to persons under contract with him. See 15 USC 694a
  • performance bond: means a bond conditioned upon the completion by the principal of a contract in accordance with its terms. See 15 USC 694a
  • person: means any State or local subdivision thereof, agency of such State or subdivision, corporation, or partnership that owns or operates or otherwise controls and provides children's services or any individual who owns or operates or otherwise controls and provides such services. See 20 USC 6082
  • person: shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. See 26 USC 7701
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • potentially exposed or susceptible subpopulation: means a group of individuals within the general population identified by the Administrator who, due to either greater susceptibility or greater exposure, may be at greater risk than the general population of adverse health effects from exposure to a chemical substance or mixture, such as infants, children, pregnant women, workers, or the elderly. See 15 USC 2602
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • prime contractor: means the person with whom the obligee has contracted to perform the contract. See 15 USC 694a
  • principal: means (A) in the case of a bid bond, a person bidding for the award of a contract, or (B) the person primarily liable to complete a contract for the obligee, or to make payments to other persons in respect of such contract, and for whose performance of his obligation the surety is bound under the terms of a payment or performance bond. See 15 USC 694a
  • Pro se: A Latin term meaning "on one's own behalf"; in courts, it refers to persons who present their own cases without lawyers.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • process: means the preparation of a chemical substance or mixture, after its manufacture, for distribution in commerce--

    (A) in the same form or physical state as, or in a different form or physical state from, that in which it was received by the person so preparing such substance or mixture, or

    (B) as part of an article containing the chemical substance or mixture. See 15 USC 2602

  • processor: means any person who processes a chemical substance or mixture. See 15 USC 2602
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • protocols and methodologies for the development of information: means a prescription of--

    (A) the--

    (i) health and environmental effects, and

    (ii) information relating to toxicity, persistence, and other characteristics which affect health and the environment,


    for which information for a chemical substance or mixture are to be developed and any analysis that is to be performed on such information, and

    (B) to the extent necessary to assure that information respecting such effects and characteristics are reliable and adequate--

    (i) the manner in which such information are 2 to be developed,

    (ii) the specification of any test protocol or methodology to be employed in the development of such information, and

    (iii) such other requirements as are necessary to provide such assurance. See 15 USC 2602

  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • publicly: means --

    (1) to perform or display it at a place open to the public or at any place where a substantial number of persons outside of a normal circle of a family and its social acquaintances is gathered. See 17 USC 101

  • qualified nonprivate funds: means any--

    (A) funds directly or indirectly invested in any applicant or licensee on or before August 16, 1982, by any Federal agency, other than the Administration, under a provision of law explicitly mandating the inclusion of those funds in the definition of the term "private capital". See 15 USC 662

  • qualifying move: means a move due to economic necessity--

    (A) from one residence to another residence. See 20 USC 6399

  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Secretary: means the Secretary of Health and Human Services. See 20 USC 6082
  • Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
  • Secretary: means the Secretary of Health and Human Services. See 42 USC 201
  • Secretary: means the Secretary of Commerce. See 19 USC 81a
  • Secretary: means the Secretary of Education. See 20 USC 1221
  • Secretary: means the Secretary of Education. See 20 USC 3404
  • Secretary: means the Secretary of Education. See 20 USC 4351
  • Secretary: means the Secretary of the Interior. See 16 USC 410ffff
  • Service: means the Public Health Service. See 42 USC 201
  • Service of process: The service of writs or summonses to the appropriate party.
  • small business concern: means a business concern that meets the size standard for the primary industry in which such business concern, and the affiliates of such business concern, is engaged, as determined by the Administrator in accordance with the North American Industry Classification System. See 15 USC 694a
  • smaller enterprise: means any small business concern that, together with its affiliates--

    (A) has--

    (i) a net financial worth of not more than $6,000,000, as of the date on which assistance is provided under this chapter to that business concern. See 15 USC 662

  • State: shall include the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. See
  • State: includes the several States, the territories and possessions of the United States, the Commonwealth of Puerto Rico, and the District of Columbia. See 15 USC 662
  • State: includes , in addition to the several States, only the District of Columbia, Guam, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the Virgin Islands, American Samoa, and the Trust Territory of the Pacific Islands. See 42 USC 201
  • State: shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title. See 26 USC 7701
  • State: means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, the Canal Zone, American Samoa, the Northern Mariana Islands, or any other territory or possession of the United States. See 15 USC 2602
  • State: includes any State, the District of Columbia, and Puerto Rico. See 19 USC 81a
  • State: as used in this subchapter shall include Puerto Rico, the Virgin Islands, and Guam. See
  • State: includes the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. See 20 USC 3404
  • State: means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Commonwealth of the Northern Mariana Islands. See 20 USC 4351
  • State: includes the District of Columbia and the Commonwealth of Puerto Rico, and any territories to which this title is made applicable by an Act of Congress. See 17 USC 101
  • State agency for higher education: means the State board of higher education or other agency or officer primarily responsible for the State supervision of higher education, or if there is no such officer or agency, an officer or agency designated by the Governor or by State law. See 20 USC 3982
  • State library administrative agency: means the official agency of a State charged by the law of the State with the extension and development of public library services throughout the State. See 20 USC 9122
  • State plan: means the document which gives assurances that the officially designated State library administrative agency has the fiscal and legal authority and capability to administer all aspects of this subchapter, provides assurances for establishing the State's policies, priorities, criteria, and procedures necessary to the implementation of all programs under this subchapter, submits copies for approval as required by regulations promulgated by the Director, identifies a State's library needs, and sets forth the activities to be taken toward meeting the identified needs supported with the assistance of Federal funds made available under this subchapter. See 20 USC 9122
  • subcontractor: means a person who has contracted with a prime contractor or with another subcontractor to perform a contract. See 15 USC 694a
  • surety: means the person who (A) under the terms of a bid bond, undertakes to pay a sum of money to the obligee in the event the principal breaches the conditions of the bond, (B) under the terms of a performance bond, undertakes to incur the cost of fulfilling the terms of a contract in the event the principal breaches the conditions of the contract, (C) under the terms of a payment bond, undertakes to make payment to all persons supplying labor and material in the prosecution of the work provided for in the contract if the principal fails to make prompt payment, or (D) is an agent, independent agent, underwriter, or any other company or individual empowered to act on behalf of such person. See 15 USC 694a
  • taxpayer: means any person subject to any internal revenue tax. See 26 USC 7701
  • technical rectifications: means rectifications of an editorial character or minor technical or clerical changes which do not affect the substance or meaning of the text, such as--

    (A) errors in spelling, numbering, or punctuation. See 19 USC 3002

  • third party debt: means any indebtedness for borrowed money, other than indebtedness owed to the Administration. See 15 USC 662
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • transfer of copyright ownership: is a n assignment, mortgage, exclusive license, or any other conveyance, alienation, or hypothecation of a copyright or of any of the exclusive rights comprised in a copyright, whether or not it is limited in time or place of effect, but not including a nonexclusive license. See 17 USC 101
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • underlicensed State: means a State in which the number of licensees per capita is less than the median number of licensees per capita for all States, as calculated by the Administrator. See 15 USC 662
  • United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701
  • United States: when used in the geographic sense, means all of the States. See 15 USC 2602
  • United States: when used in a geographical sense, comprises the several States, the District of Columbia and the Commonwealth of Puerto Rico, and the organized territories under the jurisdiction of the United States Government. See 17 USC 101
  • University: means Gallaudet University. See 20 USC 4351
  • vehicle: includes every description of carriage or other artificial contrivance used, or capable of being used, as a means of transportation on land. See 1 USC 4
  • Venue: The geographical location in which a case is tried.
  • whoever: include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals. See 1 USC 1
  • zone: means a "foreign-trade zone" as provided in this chapter. See 19 USC 81a