13 CFR 107.120 - Special rules for a Section 301(d) Licensee owned by another Licensee.

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§ 107.120 Special rules for a Section 301(d) Licensee owned by another Licensee.

With SBA's prior written approval, a Section 301(d) Licensee may operate as the subsidiary of one or more Licensees (participant Licensees), subject to the following:

(a) Each participant Licensee must own at least 20 percent of the voting securities of the Section 301(d) Licensee.

(b) A participant Licensee must treat its entire capital contribution to the subsidiary as a reduction of its Leverageable Capital. The participant Licensee's remaining Leverageable Capital must be sufficient to support its outstanding Leverage.

(c) A participant Licensee may not transfer its Leverage to a subsidiary Section 301(d) Licensee.

[63 FR 5865, Feb. 5, 1998]

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United States Code
Statutes at Large

Title 13 published on 2015-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 13 CFR Part 107 after this date.

  • 2015-10-05; vol. 80 # 192 - Monday, October 5, 2015
    1. 80 FR 60077 - Small Business Investment Companies; Passive Business Expansion & Technical Clarifications
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      SMALL BUSINESS ADMINISTRATION
      Proposed rule.
      Comments on the proposed rule must be received on or before December 4, 2015.
      13 CFR Part 107