
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 38USC3744]

 
                      TITLE 38--VETERANS' BENEFITS
 
               PART III--READJUSTMENT AND RELATED BENEFITS
 
              CHAPTER 37--HOUSING AND SMALL BUSINESS LOANS
 
                   SUBCHAPTER IV--SMALL BUSINESS LOANS
 
Sec. 3744. Approval of loans by the Secretary

    (a) Except as provided in subsection (b) of this section, a loan may 
not be guaranteed under this subchapter unless, before the closing of 
the loan, it is submitted to the Secretary for approval and the 
Secretary grants approval.
    (b) The Secretary may exempt any lender of a class of lenders listed 
in section 3702(d) of this title from the prior approval requirement in 
subsection (a) of this section if the Secretary determines that the 
experience of such lender or class of lenders warrants such exemption.
    (c) The Secretary may at any time upon thirty days' notice require 
loans to be made by any lender or class of lenders under this subchapter 
to be submitted to the Secretary for prior approval. No guaranty shall 
exist with respect to any such loan unless evidence of the guaranty is 
issued by the Secretary.

(Added Pub. L. 97-72, title III, Sec. 302(a), Nov. 3, 1981, 95 Stat. 
1057, Sec. 1844; amended Pub. L. 101-237, title III, Sec. 313(b)(1), 
Dec. 18, 1989, 103 Stat. 2077; renumbered Sec. 3744 and amended Pub. L. 
102-83, Sec. 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 406.)


                               Amendments

    1991--Pub. L. 102-83, Sec. 5(a), renumbered section 1844 of this 
title as this section.
    Subsec. (b). Pub. L. 102-83, Sec. 5(c)(1), substituted ``3702(d)'' 
for ``1802(d)''.
    1989--Pub. L. 101-237 substituted ``Secretary'' for 
``Administrator'' in section catchline and wherever appearing in text.
