§ 671. Establishment; Associate Administrator; appointment and compensation

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1958

   Pub. L. 85–699 title II § 201 · 72 Stat. 689

   Enacted · 15 U.S.C. § 671

   Pub. L. 85–699, title II, § 201, Aug. 21, 1958, 72 Stat. 690

   Source evidence

   Code source credit
   Pub. L. 85–699, title II, § 201, Aug. 21, 1958, 72 Stat. 690

   Enacted provision · exact public law section
   Sec. 201. establishment of small business investment division There is hereby established in the Small Business Administration a division to be known as the Small Business Investment Division. The Division shall be headed by a Deputy Administrator who shall be appointed by the Administrator, and shall receive compensation at the rate provided by law for other deputy administrators of the Small Business Administration. The powers conferred by this Act upon the Administration shall be exercised by the Administration through the Small Business Investment Division, and the powers herein conferred upon the Administrator shall be exercised by him through the Deputy Administrator appointed hereunder. In the performance of, and with respect to the functions, powers, and duties vested by this Act, the Administrator and the Administration shall (in addition to any authority otherwise vested by this Act) have the functions, powers, and duties set forth in the Small Business Ante, p. 394, 395. Act, and the provisions of sections 13 and 16 of that Act, insofar as applicable, are extended to apply to the functions of the Administrator and the Administration under this Act.

2. 1965

   Housing and Urban Development Act of 1965

   Pub. L. 89–117 title III § 316(b) · 79 Stat. 451

   Changed · 15 U.S.C. § 671

   Pub. L. 89–117 provided that the powers conferred by subchapters IV–A and V of this chapter shall be exercised through such divisions, sections, or other personnel as the Administrator in his discretion determines

   Source evidence

   Code amendment note
   Pub. L. 89–117 provided that the powers conferred by subchapters IV–A and V of this chapter shall be exercised through such divisions, sections, or other personnel as the Administrator in his discretion determines.

   Enacted provision · exact public law section
   (b) Section 201 of such Act is amended by striking out the third sentence and inserting in lieu thereof the following: “The powers conferred by this Act upon the Administration and upon the Administrator, with the exception of those conferred by titles IV and V hereof, shall be exercised through the Small Business Investment Division and through the Deputy Administrât or appointed hereunder. The powers conferred by this Act. upon the Administration and upon the Administrator Ante, p. 482; 72 Stat. 696. 15 USC 695. by titles IV and V hereof shall be exercised through such division, section, or other personnel as the Administrator in his discretion shall determine.”

3. 1966

   Small Business Investment Act Amendments of 1966

   Pub. L. 89–779 § 2 · 80 Stat. 1359

   1. Substituted · 15 U.S.C. § 671

      Pub. L. 89–779 substituted “Associated Administrator” for “Deputy Administrator” as the head of the Small Business Investment Division of the Small Business Administration

   2. Substituted · 15 U.S.C. § 671

      Pub. L. 89–779 substituted the rate provided by law for other Associate Administrators of the Small Business Administration for the rate provided by law for the other Deputy Administrators of the Small Business Administration as the standard of compensation for the head of the Small Business Investment Division

   3. Struck · 15 U.S.C. § 671

      Pub. L. 89–779 struck out provisions spelling out the proper exercise of the powers conferred on the Administration and on the Administrator through the Small Business Investment Division and the Division head. See section 687(f) of this title

   Source evidence

   Code amendment note
   Pub. L. 89–779 substituted “Associated Administrator” for “Deputy Administrator” as the head of the Small Business Investment Division of the Small Business Administration, substituted the rate provided by law for other Associate Administrators of the Small Business Administration for the rate provided by law for the other Deputy Administrators of the Small Business Administration as the standard of compensation for the head of the Small Business Investment Division, and struck out provisions spelling out the proper exercise of the powers conferred on the Administration and on the Administrator through the Small Business Investment Division and the Division head. See section 687(f) of this title.

   Enacted provision · exact public law section
   Sec. 2. Section 201 of the Small Business Investment Act of 1958 is amended to read as follows: “Sec. 201. “establishment of small business investment division There is hereby established in the Small Business Administration a division to be known as the Small Business Investment Division. The Division shall be headed by an Associate Administrator who shall be appointed by the Administrator, and shall receive compensation at the rate provided by law for other Associate Administrators of the Small Business Administration.”

5 of 5 references resolved to an enrolled provision