CFR Subpart B

CFR Subpart B
in effect

13 C.F.R. § 101.200 When does SBA hire private counsel?

(a) Business loans. SBA may hire private counsel to represent it in regard to business loans when the volume of activity in an area is not sufficient to require a full-time SBA employee, or the area is too remote for economical use of a full-time SBA employee. (b) Disaster loans. SBA may hire private counsel in regard to disaster loans when the disaster presents an emergency and a volume of activity that cannot be promptly and economically serviced by available SBA employees.

13 C.F.R. § 101.201 What are the minimum terms of private counsel's employment?

(a) Private counsel must perform all requested work in compliance with SBA's regulations, policies, and instructions, and take such action as is legally required under the Small Business Act, the Small Business Investment Act, and other laws applicable to SBA. (b) Private counsel must adhere to the highest standards of professional conduct and maintain confidentiality appropriate to the attorney-client relationship. (c) Private counsel acts under the supervision of the SBA General Counsel (and designees). (d) Private counsel usually is compensated at an hourly rate as approved by SBA. Contingency fee agreements may be used if approved by the General Counsel. (e) Either party may terminate the employment upon written notice.

Starting a business? Corpus forms LLCs in all 50 states and DC.