SBA SOP 50 10 8.1, A.Ch5.C.2 — Marine Insurance

sba-sop81-a-ch5-c-2

Verbatim text of SBA SOP 50 10 8.1 (with Technical Policy Updates) section A.Ch5.C.2 (Marine Insurance). Effective 2026-10-01 for applications received by SBA on or after that date; SOP 50 10 8 governs applications submitted through 2026-09-30. 1 provision(s) quoted from SBA's .docx.

This register: .xlsx .csv

See also

SBA lending corpus: SOP 50 10 and the active notices, with the expiry watcher.

Verbatim regulatory text (1)

Verbatim provisions from SBA SOP 50 10 8.1, A.Ch5.C.2 — Marine Insurance — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

SOP 50 10 8.1 A.Ch5.C.2

Effective 2026-10-01 · publisher's stamp for this provision

2. Marine Insurance a. When a vessel(s) is(are) the collateral on the loan, SBA Lender must obtain coverage in the amount of the full insurable value on the vessel(s) with the 7(a) Lender (for 7(a)), or the CDC/SBA (for 504), designated as “Mortgagee”. b. The policy must contain a Mortgagee clause providing that the interest of the 7(a) Lender (for 7(a)), or the CDC/SBA (for 504), will not be invalidated by any: i. Act, omission, or negligence of the mortgagor, owner, master, agent, or crew of the vessel; ii. Failure to comply with any warranty or condition out of mortgagee’s control; or iii. Change in title, ownership, or management of the vessel. c. The policy must include Protection and Indemnity, Breach of Warranty, and Pollution coverage. d. The policy or endorsements must provide for at least 10 days prior written notice of policy cancellation to the 7(a) Lender (for 7(a)), or the CDC/SBA (for 504).

Source: SBA SOP 50 10 8.1, A.Ch5.C.2 — Marine Insurance · source URL · snapshot 0fb0c4692cf52938

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Source of record: https://claudeforcompliance.com/regs/sba-sop81-a-ch5-c-2/ · register sba-sop81-a-ch5-c-2 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.