Page:United States Statutes at Large Volume 118.djvu/3492

 118 STAT. 3462 PUBLIC LAW 108–447—DEC. 8, 2004 ‘‘(I) the management official, and for good cause shown; or ‘‘(II) the Attorney General. ‘‘(ii) CONSENT.—Unless the management official appears at a hearing under this paragraph in person or by a duly authorized representative, the manage ment official shall be deemed to have consented to the issuance of an order of removal under subpara graph (A). ‘‘(D) ORDER OF REMOVAL.— ‘‘(i) IN GENERAL.—In the event of consent under subparagraph (C)(ii), or if upon the record made at a hearing under this subsection, the Administrator finds that any of the grounds specified in the notice of removal has been established, the Administrator may issue such orders of removal from office as the Administrator deems appropriate. ‘‘(ii) EFFECTIVENESS.—An order under clause (i) shall— ‘‘(I) take effect 30 days after the date of service upon the subject small business lending company or non Federally regulated lender and the manage ment official concerned (except in the case of an order issued upon consent as described in subpara graph (C)(ii), which shall become effective at the time specified in such order); and ‘‘(II) remain effective and enforceable, except to such extent as it is stayed, modified, terminated, or set aside by action of the Administrator or a reviewing court in accordance with this section. ‘‘(3) AUTHORITY TO SUSPEND OR PROHIBIT PARTICIPATION.— ‘‘(A) IN GENERAL.—In order to protect a small business lending company, a non Federally regulated lender or the interests of the Administration or the United States, the Administrator may suspend from office or prohibit from further participation in any manner in the management or conduct of the affairs of a small business lending com pany or a non Federally regulated lender a management official by written notice to such effect served upon the management official. Such suspension or prohibition may prohibit the management official from making, servicing, reviewing, approving, or liquidating any loan under section 7(a) of this Act. ‘‘(B) EFFECTIVENESS.—A suspension or prohibition under subparagraph (A)— ‘‘(i) shall take effect upon service of notice under paragraph (2); and ‘‘(ii) unless stayed by a court in proceedings author ized by subparagraph (C), shall remain in effect— ‘‘(I) pending the completion of the administra tive proceedings pursuant to a notice of intention to remove served under paragraph (2); and ‘‘(II) until such time as the Administrator dis misses the charges specified in the notice, or, if an order of removal or prohibition is issued against the management official, until the effective date of any such order. Notice. Effective date.

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