Notice: The uscode.house.gov website is currently operating in a temporary format. While the United States Code remains available from its authoritative source, some website features and functionality are temporarily unavailable.
The United States Code Online is current through Public Law 119-120 (October 7, 2026).
Search & Browse Currency and Updating Classification Tables Popular Name Tool Positive Law Codification Editorial Reclassification Downloads
38 U.S.C. 3743: Liability on loansText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 38-VETERANS’ BENEFITSCHAPTER 37-HOUSING AND SMALL BUSINESS LOANS
Jump To: Source CreditEditorial NotesAmendments

§3743. Liability on loans

Each individual who has an ownership interest in a veterans’ small business concern that is provided a direct loan under this subchapter, or that obtains a loan guaranteed under this subchapter, shall execute a note or other document evidencing the direct or guaranteed business loan, and such individuals shall be jointly and severally liable to the United States for the amount of such direct loan or, in the case of a guaranteed loan, for any amount paid by the Secretary on account of such loan.

(Added Pub. L. 97–72, title III, § 302(a) , Nov. 3, 1981 , 95 Stat. 1057 , § 1843; amended Pub. L. 101–237, title III, § 313(b)(1) , Dec. 18, 1989 , 103 Stat. 2077 ; renumbered § 3743, Pub. L. 102–83, § 5(a) , Aug. 6, 1991 , 105 Stat. 406 .)

Editorial Notes

Amendments

1991⁠—Pub. L. 102–83 renumbered section 1843 of this title as this section.

1989⁠—Pub. L. 101–237 substituted “Secretary” for “Administrator”.