Mergers
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
Agency approval. All borrower mergers or consolidations (herein referred to as “mergers”) require approval by the Agency and the lender. The Agency may approve a merger when—
(a) The resulting organization will be eligible for a guaranteed loan and assumes all the liabilities and acquires all the assets of the merged borrower;
(b) The merger is in the best interest of the government and the merging organization;
(c) The resulting organization can meet all required conditions as contained in specific loan agreements; and
(d) All property can be legally transferred to the resulting organization.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.