13 CFR 120.851

§ 120.851 CDC ethical requirements.

United States · 13 CFR — Business Credit and Assistance · Status: effective

Cite this

Citation: 13 CFR 120.851, § 120.851 CDC ethical requirements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52230
Permanent ID: ys:prov:52230@1
SHA-256: 11f0d14138e33c02ad2d5134cd21678fec1ed8d79c7669e9410229810cfb9499

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Full text

CDCs and their Associates must act ethically and exhibit good character. They must meet all of the ethical requirements of § 120.140. In addition, they are subject to the following: (a) Any benefit flowing to a CDC's Associate or his or her employer from activities as an Associate must be merely incidental (this requirement does not prevent an Associate or an Associate's employer from providing interim financing as described in § 120.890 or Third Party Loans as described in § 120.920, as long as such activity does not violate § 120.140); and (b) A CDC's Associate may not be an officer, director, or manager of more than one CDC.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.