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7 U.S.C. § 2009cc-6 - U.S. Code - Unannotated Title 7. Agriculture § 2009cc-6. Fees

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)In general

The Secretary may charge such fees as the Secretary considers appropriate, so long as those fees are proportionally equal for each rural business investment company, with respect to any guarantee or grant issued under this subchapter.

(b)Trust certificate

Notwithstanding subsection (a), the Secretary shall not collect a fee for any guarantee of a trust certificate under section 2009cc-5 of this title, except that any agent of the Secretary may collect such fees as the Secretary considers appropriate, so long as those fees are proportionally equal for each rural business investment company, for the functions described in section 2009cc-5(e)(2) of this title.

(c)License

(1)In general

Except as provided in paragraph (3), the Secretary may prescribe fees to be paid by each applicant for a license to operate as a rural business investment company under this subchapter.

(2)Use of amounts

Fees collected under this subsection--

(A) shall be deposited in the account for salaries and expenses of the Secretary;

(B) are authorized to be appropriated as the Secretary considers appropriate; and

(C) shall be in such amounts as the Secretary considers appropriate.

(3)Prohibition on collection of certain fees

In the case of a license described in paragraph (1) that was approved before July 1, 2007, the Secretary shall not collect any fees due on or after the date of enactment of this paragraph.

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Cite this article: FindLaw.com - 7 U.S.C. § 2009cc-6 - U.S. Code - Unannotated Title 7. Agriculture § 2009cc-6. Fees - last updated January 01, 2024 | https://codes.findlaw.com/us/title-7-agriculture/7-usc-sect-2009cc-6/

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