13 CFR § 115.62 - Prohibition on participation in Prior Approval program.

---
identifier: "/us/cfr/t13/s115.62"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "13 CFR § 115.62 - Prohibition on participation in Prior Approval program."
title_number: 13
title_name: "Business Credit and Assistance"
section_number: "115.62"
section_name: "Prohibition on participation in Prior Approval program."
chapter_name: "SMALL BUSINESS ADMINISTRATION"
part_number: "115"
part_name: "SURETY BOND GUARANTEE"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. app 3; 15 U.S.C. 636i, 687b, 687c, 694a, and 694b note."
regulatory_source: "61 FR 3271, Jan. 31, 1996, unless otherwise noted."
cfr_part: "115"
---


# 115.62 Prohibition on participation in Prior Approval program.

A PSB Surety is not eligible to submit applications under subpart B of this part. This prohibition does not extend to an Affiliate, as defined in 13 CFR § 121.103, of a PSB Surety that is not itself a PSB Surety provided that the relationship between the PSB Surety and the Affiliate has been fully disclosed to SBA and that such Affiliate has been approved by SBA to participate as a Prior Approval Surety pursuant to § 115.11.

[72 FR 34600, June 25, 2007]