13 CFR § 107.20 - Legal basis and applicability of this part 107.

---
identifier: "/us/cfr/t13/s107.20"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "13 CFR § 107.20 - Legal basis and applicability of this part 107."
title_number: 13
title_name: "Business Credit and Assistance"
section_number: "107.20"
section_name: "Legal basis and applicability of this part 107."
chapter_name: "SMALL BUSINESS ADMINISTRATION"
part_number: "107"
part_name: "SMALL BUSINESS INVESTMENT COMPANIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 662, 681-687, 687b-h, 687k-m."
regulatory_source: "61 FR 3189, Jan. 31, 1996, unless otherwise noted."
cfr_part: "107"
---


# 107.20 Legal basis and applicability of this part 107.

(a) The regulations in this part implement Title III of the Small Business Investment Act of 1958, as amended. All Licensees must comply with all applicable regulations, accounting guidelines and valuation guidelines for Licensees.

(b) Provisions of this part which are not mandated by the Act shall not supersede existing State law. A party claiming that a conflict exists shall submit an opinion of independent counsel, citing authorities, for SBA's resolution of the issues involved.