Page:United States Statutes at Large Volume 118.djvu/3491

 118 STAT. 3461 PUBLIC LAW 108–447—DEC. 8, 2004 States Code. If after hearing, or a waiver thereof, the Adminis trator determines that an order revoking or suspending the authority or a cease and desist order should be issued, the Administrator shall promptly issue such order, which shall include a statement of the findings of the Administrator and the grounds and reasons therefor and specify the effective date of the order, and shall cause the order to be served on the small business lending company, non Federally regulated lender, or other person involved. ‘‘(2) Witnesses summoned before the Administrator shall be paid by the party at whose instance they were called the same fees and mileage that are paid witnesses in the courts of the United States. ‘‘(3) A cease and desist order, suspension or revocation issued by the Administrator, after the hearing under this sub section is final agency action for purposes of chapter 7 of title 5, United States Code. An adversely aggrieved party shall have 20 days from the date of issuance of the cease and desist order, suspension or revocation, to seek judicial review in an appropriate district court. ‘‘(g) REMOVAL OR SUSPENSION OF MANAGEMENT OFFICIAL.— ‘‘(1) DEFINITION.—In this section, the term ‘management official’ means, with respect to a small business lending com pany or a non Federally regulated lender, an officer, director, general partner, manager, employee, agent, or other participant in the management of the affairs of the company’s or lender’s activities under section 7(a) of this Act. ‘‘(2) REMOVAL OF MANAGEMENT OFFICIAL.— ‘‘(A) NOTICE.—The Administrator may serve upon any management official a written notice of its intention to remove that management official if, in the opinion of the Administrator, the management official— ‘‘(i) willfully and knowingly commits a substantial violation of— ‘‘(I) this Act; ‘‘(II) any regulation issued under this Act; ‘‘(III) a final cease and desist order under this Act; or ‘‘(IV) any agreement by the management offi cial, the small business lending company or non Federally regulated lender under this Act; or ‘‘(ii) willfully and knowingly commits a substantial breach of a fiduciary duty of that person as a manage ment official and the violation or breach of fiduciary duty is one involving personal dishonesty on the part of such management official. ‘‘(B) CONTENTS OF NOTICE.—A notice under subpara graph (A) shall contain a statement of the facts constituting grounds therefor and shall fix a time and place at which a hearing, conducted pursuant to sections 554, 556, and 557 of title 5, United States Code, will be held thereon. ‘‘(C) HEARING.— ‘‘(i) TIMING.—A hearing under subparagraph (B) shall be held not earlier than 30 days and later than 60 days after the date of service of notice of the hearing, unless an earlier or a later date is set by the Administrator at the request of— Deadline.

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