U.S Code last checked for updates: Nov 22, 2024
§ 1497a.
Supplemental surety bond guarantee
(a)
Amount; eligibility
(b)
Conditions
The Secretary may provide a supplemental guarantee under this section only if the Secretary determines that—
(1)
the Indian individual or economic enterprise has secured or will likely secure a surety bond guarantee under section 694b of title 15;
(2)
the supplemental guarantee is necessary for the Indian individual or economic enterprise to secure a surety bond;
(3)
no more than 25 percent of the surety’s business is comprised of bonds guaranteed pursuant to this section; and
(4)
the surety will provide appropriate technical assistance and advice to, and monitor the performance of, the Indian individual or economic enterprise for the prevention or mitigation of a loss.
(c)
Fees and charges
(Pub. L. 93–262, title II, § 218, as added Pub. L. 100–442, § 5(a), Sept. 22, 1988, 102 Stat. 1764.)
cite as: 25 USC 1497a