15 USC § 80a–61 - Loans | Title 15 - Commerce and Trade | U.S. Code

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Current through Pub. L. 113-99. (See Public Laws for the current Congress.)

Notwithstanding the exemption set forth in section 80a–6 (f) of this title, section 80a–21 of this title shall apply to a business development company to the same extent as if it were a registered closed-end investment company, except that nothing in that section shall be deemed to prohibit—

(1) any loan to a director, officer, or employee of, or general partner in, a business development company for the purpose of purchasing securities of such company as part of an executive compensation plan, if such loan meets the requirements of section 80a–56 (j) of this title; or

(2) any loan to a company controlled by a business development company, which companies could be deemed to be under common control solely because a third person controls such business development company.

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Notwithstanding the exemption set forth in section 80a–6 (f) of this title, section 80a–21 of this title shall apply to a business development company to the same extent as if it were a registered closed-end investment company, except that nothing in that section shall be deemed to prohibit—

(1) any loan to a director, officer, or employee of, or general partner in, a business development company for the purpose of purchasing securities of such company as part of an executive compensation plan, if such loan meets the requirements of section 80a–56 (j) of this title; or

(2) any loan to a company controlled by a business development company, which companies could be deemed to be under common control solely because a third person controls such business development company.

Source

(Aug. 22, 1940, ch. 686, title I, § 62, as added Pub. L. 96–477, title I, § 105,Oct. 21, 1980, 94 Stat. 2287.)

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The most recent Classification Table update that we have noticed was Tuesday, May 21, 2013

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15 USC	Description of Change	Session Year	Public Law	Statutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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17 CFR - Title 17—Commodity and Securities Exchanges

17 CFR Part 270 - RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940

15 USC § 80a–61 - Loans

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