CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XLII—RURAL BUSINESS-COOPERATIVE SERVICE AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE (parts 4274 to 4290) > PART 4290—RURAL BUSINESS INVESTMENT COMPANY (“RBIC”) PROGRAM > SUBPART G—Managing the Operations of a RBIC (§4290.500 to §4290.585) > 4290.507—Violations based on false filings and nonperformance of agreements with the Secretary or SBA.

4290.507—Violations based on false filings and nonperformance of agreements with the Secretary or SBA.

The following shall constitute a violation of this part:
(a) Nonperformance. Failure to perform any of the requirements of any Debenture or of any written agreement with the Secretary or SBA.
(b) False statement. In any document submitted to the Secretary or SBA:
(1) Any false statement knowingly made; or
(2) Any misrepresentation of a material fact; or
(3) Any failure to state a material fact.
(4) A material fact is any fact that is necessary to make a statement not misleading in light of the circumstances under which the statement was made.