Us Code § 3743 - Liability on loans
Full text of Us Code United States Code § 3743 — Liability on loans, with citation guidance and answers to common questions.
§ 3743. Liability on loans
Each individual who has an ownership interest in a veterans' small business concern that is provided a direct loan under this subchapter, or that obtains a loan guaranteed under this subchapter, shall execute a note or other document evidencing the direct or guaranteed business loan, and such individuals shall be jointly and severally liable to the United States for the amount of such direct loan or, in the case of a guaranteed loan, for any amount paid by the Secretary on account of such loan.
(Added Pub. L. 97–72, title III, §302(a), Nov. 3, 1981, 95 Stat. 1057, §1843; amended Pub. L. 101–237, title III, §313(b)(1), Dec. 18, 1989, 103 Stat. 2077; renumbered §3743, Pub. L. 102–83, §5(a), Aug. 6, 1991, 105 Stat. 406.)
Editorial Notes
Amendments
1991—Pub. L. 102–83 renumbered section 1843 of this title as this section.
1989—Pub. L. 101–237 substituted "Secretary" for "Administrator".
About This Section
38 U.S.C. § 3743 is part of Title 38 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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