The easiest way to email your members of CongressDonate Now
S.1960 - Surety Bond Improvement Act of 2007
A bill to amend the Small Business Investment Act of 1958 to improve surety bond guarantees, and for other purposes.
Loading Bill Text
Rollover any line of text to comment and/or link to it.
August 2, 2007
SECTION 1. SHORT TITLE.
SEC. 2. DEFINITIONS.
SEC. 3. SURETY BONDS.
`(6) The Administrator shall authorize a surety that issues, monitors, or services bonds under paragraph (3) to use rates approved by the insurance commissioner in the State in which such contract will be performed.'.CommentsClose CommentsPermalink
`(4) PAYMENT OF GUARANTEES- The Administrator may not refuse to make payment on a guarantee under this subsection based on facts, circumstances, or defects that the Administrator reasonably should have identified during the process of making the guarantee.'.CommentsClose CommentsPermalink
(1) IN GENERAL- On the date on which the Administrator provides notice of a proposed change in fees under section 411(h) of the Small Business Investment Act of 1958 (
(B) the total amount of fees received under such section 411(h) and the total cost of the program under part B of title IV of the Small Business Investment Act of 1958 (
(ii) for each subsequent report, during the period beginning on the date of the submission of the prior report submitted under paragraph (1) and ending on the date of submission of such subsequent report.CommentsClose CommentsPermalink
(d) Sense of Congress- It is the sense of Congress that the program under part B of title IV of the Small Business Investment Act of 1958 (
SEC. 4. MEDIATION.
(a) In General- Not later than 180 days after the date of enactment of this Act, and in accordance with subchapter IV of chapter 5 of title 5, United States Code, the Administrator shall promulgate regulations establishing a nonbinding, neutral, third party alternative dispute resolution procedure for mediating an issue in controversy between a participating surety and the Administration.CommentsClose CommentsPermalink
(2) the term `participating surety' means a surety participating in a program under part B of title IV of the Small Business Investment Act of 1958 (
Vote on This Bill
OC Blog Articles Related To This Bill
- House advancing Fed transparency bill that was stripped out of Dodd-Frank Jun 26, 2012
- Will Government Employees Publicly Oppose #FreeTHOMAS? Jun 05, 2012
- Yes, let's stride towards an open VCS for legislation (or, GitHub for laws on OC) May 23, 2012
- Supercommittee Failure and Stimulus Nov 22, 2011
- Supercommittee to Admit Failure Nov 21, 2011