13 CFR § 107.450 - Notification to SBA of pledge of Licensee's shares.

---
identifier: "/us/cfr/t13/s107.450"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "13 CFR § 107.450 - Notification to SBA of pledge of Licensee's shares."
title_number: 13
title_name: "Business Credit and Assistance"
section_number: "107.450"
section_name: "Notification to SBA of pledge of Licensee's shares."
chapter_name: "SMALL BUSINESS ADMINISTRATION"
part_number: "107"
part_name: "SMALL BUSINESS INVESTMENT COMPANIES"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
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"
---


# 107.450 Notification to SBA of pledge of Licensee's shares.

(a) You must notify SBA in writing, within 30 calendar days, of the terms of any transaction in which:

(1) Any Person, or group of Persons acting in concert, pledges shares of your stock (or equivalent ownership interests) as collateral for indebtedness; and

(2) The shares pledged are at least 10 percent of your Regulatory Capital.

(b) If the transaction creates a change of ownership or Control, you must comply with § 107.400 or § 107.410, as appropriate.