Page:United States Statutes at Large Volume 118.djvu/3489

 118 STAT. 3459 PUBLIC LAW 108–447—DEC. 8, 2004 ‘‘(2) with respect to small business lending companies to set capital standards to regulate, to examine, and to enforce laws governing such companies, in accordance with the pur poses of this Act; and ‘‘(3) with respect to non Federally regulated lenders to regu late, to examine, and to enforce laws governing the lending activities of such lenders under section 7(a) in accordance with the purposes of this Act. ‘‘(b) CAPITAL DIRECTIVE.— ‘‘(1) IN GENERAL.—If the Administrator determines that a small business lending company is being operated in an imprudent manner, the Administrator may, in addition to any other action authorized by law, issue a directive to such com pany to increase capital to such level as the Administrator determines will result in the safe and sound operation of such company. ‘‘(2) DELEGATION.—The Administrator may not delegate the authority granted under paragraph (1) except to an Associate Deputy Administrator. ‘‘(3) REGULATIONS.—The Administrator shall issue regula tions outlining the conditions under which the Administrator may determine the level of capital pursuant to paragraph (1). ‘‘(c) CIVIL ACTION.—If a small business lending company vio lates this Act, the Administrator may institute a civil action in an appropriate district court to terminate the rights, privileges, and franchises of the company under this Act. ‘‘(d) REVOCATION OR SUSPENSION OF LOAN AUTHORITY.— ‘‘(1) The Administrator may revoke or suspend the authority of a small business lending company or a non Feder ally regulated lender to make, service or liquidate business loans authorized by section 7(a) of this Act— ‘‘(A) for false statements knowingly made in any writ ten submission required under this Act; ‘‘(B) for omission of a material fact from any written submission required under this Act; ‘‘(C) for willful or repeated violation of this Act; ‘‘(D) for willful or repeated violation of any condition imposed by the Administrator with respect to any applica tion, request, or agreement under this Act; or ‘‘(E) for violation of any cease and desist order of the Administrator under this section. ‘‘(2) The Administrator may revoke or suspend authority under paragraph (1) only after a hearing under subsection (f). The Administrator may delegate power to revoke or suspend authority under paragraph (1) only to the Deputy Administrator and only if the Administrator is unavailable to take such action. ‘‘(A) The Administrator, after finding extraordinary cir cumstances and in order to protect the financial or legal position of the United States, may issue a suspension order without conducting a hearing pursuant to subsection (f). If the Administrator issues a suspension under the pre ceding sentence, the Administrator shall within two busi ness days follow the procedures set forth in subsection (f). ‘‘(B) Any suspension under paragraph (1) shall remain in effect until the Administrator makes a decision pursuant to subparagraph (4) to permanently revoke the authority

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