Page:United States Statutes at Large Volume 116 Part 1.djvu/426

 116 STAT. 400 PUBLIC LAW 107-171—MAY 13, 2002 7 USC 2009CC-13. 7 USC 2009CC-14. "(1) IN GENERAL.— In any proceeding under subsection (a), the court as a court of equity may, to such extent as the court considers necessary, take exclusive jurisdiction over the rural business investment company and the assets of the rural business investment company, wherever located. "(2) TRUSTEE OR RECEIVER.— The court shall have jurisdiction in any proceeding described in paragraph (1) to appoint a trustee or receiver to hold or administer the assets. "(c) SECRETARY As TRUSTEE OR RECEIVER. — "(1) AUTHORITY.— The Secretary may act as trustee or receiver of a rural business investment company. "(2) APPOINTMENT. —On the request of the Secretary, the court shall appoint the Secretary to act as a trustee or receiver of a rural business investment company unless the court considers the appointment inequitable or otherwise inappropriate by reason of any special circumstances involved. "SEC. 384N. ADDITIONAL PENALTIES FOR NONCOMPLIANCE. "(a) IN GENERAL. — With respect to any rural business investment company that violates or fails to comply with this subtitle (including any rule, regulation, order, or participation agreement under this subtitle), the Secretary may, in accordance with this section— "(1) void the participation agreement between the Secretary and the rural business investment company; and "(2) cause the rural business investment company to forfeit all of the rights and privileges derived by the rural business investment company under this subtitle. "(b) ADJUDICATION OF NONCOMPLIANCE.— "(1) IN GENERAL.— Before the Secretary may cause a rural business investment company to forfeit rights or privileges under subsection (a), a court of the United States of competent jurisdiction must find that the rural business investment company committed a violation, or failed to comply, in a cause of action brought for that purpose in the district, territory, or other place subject to the jurisdiction of the United States, in which the principal office of the rural business investment company is located. " (2) PARTIES AUTHORIZED TO FILE CAUSES OF ACTION. — Each cause of action brought by the United States under this subsection shall be brought by the Secretary or by the Attorney General. "SEC. 3840. UNLAWFUL ACTS AND OMISSIONS; BREACH OF FIDUCIARY DUTY. " (a) PARTIES DEEMED TO COMMIT A VIOLATION.—Whenever any rural business investment company violates this subtitle (including any rule, regulation, order, or participation agreement under this subtitle), by reason of the failure of the rural business investment company to comply with this subtitle or by reason of its engaging in any act or practice that constitutes or will constitute a violation of this subtitle, the violation shall also be deemed to be a violation and an unlawful act committed by any person that, directly or indirectly, authorizes, orders, participates in, causes, brings about, counsels, aids, or abets in the commission of any acts, practices, or transactions that constitute or will constitute, in whole or in part, the violation.

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