Change of ownership or control requirements for SBA Supervised Lenders.

CFR · 2024-01-01 · US · Title 13

(a) (1) Any transfer(s) (direct or indirect) of 10 percent or more of any class of the SBA Supervised Lender's stock or ownership interests (or series of transfers which, in the aggregate over an 18 month period, equals 10 percent or more), or any agreement providing for such transfer; (2) Any transfer(s) (direct or indirect) that could result in the beneficial ownership by any person or group of persons acting in concert of 10 percent or more of any class of the SBA Supervised Lender's stock or ownership interests, or any agreement providing for such transfer(s); (3) Any merger, consolidation, or reorganization; (4) Any other transaction or agreement that transfers control of an SBA Supervised Lender; or (5) Any other transaction or event that results in any change in the possession (direct or indirect) of the right to control, or the power to direct or cause the direction of, the management or policies of an SBA Supervised Lender, whether through the ownership of voting securities, by contract or otherwise. (b) (c) (d)

official document · source cfr-2024 · id 13:§ 120.468