Home/CFR/Title 7/Part 4290
FEDERAL · 7 CFR

Part 4290 — Rural Business Investment Company (“Rbic”) Program

133 sections · Title 7: Agriculture

§ 4290.10Description of the Rural Business Investment Company Program.
§ 4290.15Leveraged and Non-leveraged Rural Business Investment Companies.
§ 4290.20Legal basis and applicability of this part 4290.
§ 4290.30Amendments to Act and regulations.
§ 4290.40How to read this part 4290.
§ 4290.45Responsibility for implementing this part 4290.
§ 4290.50Definition of terms.
§ 4290.100Business form.
§ 4290.110Qualified management.
§ 4290.120Plan to invest in Rural Areas.
§ 4290.130Identified Rural Areas.
§ 4290.140Approval of initial Management Expenses.
§ 4290.150Management and ownership diversity requirement.
§ 4290.160Special rules for Partnership RBICs and LLC RBICs.
§ 4290.165Obligations of Control Persons.
§ 4290.200Adequate capital for RBICs.
§ 4290.210Minimum capital requirements for RBICs.
§ 4290.230Private Capital for RBICs.
§ 4290.240Limitations on non-cash capital contributions in Private Capital.
§ 4290.300When and how to apply for a RBIC License.
§ 4290.310Contents of application.
§ 4290.320Contents of comprehensive business plan.
§ 4290.330Guarantee fee.
§ 4290.340Evaluation and selection—general.
§ 4290.350Eligibility and completeness.
§ 4290.360Initial review of Applicant's management team's qualifications.
§ 4290.370Evaluation criteria.
§ 4290.380Selection.
§ 4290.390Licensing as a RBIC.
§ 4290.400Changes in ownership of 10 percent or more of RBIC but no change of Control.
§ 4290.410Changes in Control of RBIC (through change in ownership or otherwise).
§ 4290.420Prohibition on exercise of ownership or Control rights in RBIC before approval.
§ 4290.430Notification of transactions that may change ownership or Control.
§ 4290.440Standards governing prior approval for a proposed transfer of Control.
§ 4290.450Notification of pledge of RBIC's shares.
§ 4290.460Restrictions on Common Control or ownership of two (or more) RBICs.
§ 4290.470Prior approval of merger, consolidation, or reorganization of RBIC.
§ 4290.480Prior approval of changes to RBIC's business plan.
§ 4290.500Lawful operations under the Act.
§ 4290.502Representations to the public.
§ 4290.503RBIC's adoption of an approved valuation policy.
§ 4290.504Equipment of USDA or SBA officials.
§ 4290.506Safeguarding the RBIC's assets/Internal controls.
§ 4290.507Violations based on false filings and nonperformance of agreements with the Agency or SBA.
§ 4290.508Compliance with non-discrimination laws and regulations applicable to federally-assisted programs.
§ 4290.509Employment of USDA or SBA officials.
§ 4290.510Approval of RBIC's Investment Adviser/Manager.
§ 4290.520Management Expenses of a RBIC.
§ 4290.530Restrictions on investments of idle funds by RBICs.
§ 4290.550Prior approval of secured third-party debt of RBICs.
§ 4290.585Voluntary decrease in RBIC's Regulatory Capital.
§ 4290.600General requirement for RBIC to maintain and preserve records.
§ 4290.610Required certifications for Loans and Investments.
§ 4290.620Requirements to obtain information from Portfolio Concerns.
§ 4290.630Requirement for RBICs to file financial statements and supplementary information with the Agency.
§ 4290.640Requirement to file portfolio financing reports with the Agency.
§ 4290.650Requirement to report portfolio valuations to the Agency
§ 4290.660Other items required to be filed by RBIC with the Agency.
§ 4290.680Reporting changes in RBIC not subject to prior approval.
§ 4290.690Examinations.
§ 4290.691Responsibilities of RBIC during examination.
§ 4290.692Examination fees.
§ 4290.700Requirements concerning types of enterprises to receive financing.
§ 4290.720Enterprises that may be ineligible for Financing.
§ 4290.730Financings which constitute conflicts of interest.
§ 4290.740Portfolio diversification (“overline” limitation).
§ 4290.760How a change in size or activity of a Portfolio Concern affects the RBIC and the Portfolio Concern.
§ 4290.800Financings in the form of Equity Securities.
§ 4290.810Financings in the form of Loans.
§ 4290.815Financings in the form of Debt Securities.
§ 4290.820Financings in the form of guarantees.
§ 4290.825Purchasing securities from an underwriter or other third party.
§ 4290.830Minimum term of Financing.
§ 4290.835Exceptions to minimum term of Financing.
§ 4290.840Maximum term of Financing.
§ 4290.845Maximum rate of amortization on Loans and Debt Securities.
§ 4290.850Restrictions on redemption of Equity Securities.
§ 4290.860Financing fees and expense reimbursements a RBIC may receive from an Enterprise.
§ 4290.880Assets acquired in liquidation of Portfolio securities.
§ 4290.885Disposition of assets to RBIC's Associates or to competitors of Portfolio Concerns.
§ 4290.900Management fees for services provided to an Enterprise by RBIC or its Associate.
§ 4290.1100Type of Leverage and application procedures.
§ 4290.1120General eligibility requirements for Leverage.
§ 4290.1130Leverage fees payable by RBIC.
§ 4290.1140RBIC's acceptance of remedies under § 4290.1810.
§ 4290.1150Maximum amount of Leverage for a RBIC.
§ 4290.1200Leverage commitment to a RBIC—application procedure, amount, and term.
§ 4290.1220Requirement for RBIC to file financial statements at the time of request for a draw.
§ 4290.1230Draw-downs by RBIC under Leverage commitment.
§ 4290.1240Funding of RBIC's draw request through sale to third-party.
§ 4290.1500Restrictions on distributions to RBIC investors while RBIC has outstanding Leverage.
§ 4290.1600Agency's authority to issue and guarantee Trust Certificates.
§ 4290.1610Effect of prepayment or early redemption of Leverage on a Trust Certificate.
§ 4290.1620Functions of agents, including Central Registration Agent, Selling Agent and Fiscal Agent.
§ 4290.1630Regulation of Brokers and Dealers and disclosure to purchasers of Leverage or Trust Certificates.
§ 4290.1640Agency's access to records of the CRA, Brokers, Dealers and Pool or Trust assemblers.
§ 4290.1700Agency's transfer of interest in a RBIC's Leverage security.
§ 4290.1710Agency's authority to collect or compromise claims.
§ 4290.1720Characteristics of Agency's guarantee.
§ 4290.1810Events of default and the Agency's remedies for RBIC's noncompliance with terms of Debentures.
§ 4290.1830RBIC's Capital Impairment definition and general requirements.
§ 4290.1840Computation of RBIC's Capital Impairment Percentage.
§ 4290.1900Termination of participation as a RBIC.
§ 4290.1910Non-waiver of rights or terms of Leverage security.
§ 4290.1920RBIC's application for exemption from a regulation in this part 4290.
§ 4290.1930Effect of changes in this part 4290 on transactions previously consummated.
§ 4290.1940Integration of this part with other regulations applicable to USDA's programs.
§ 4290.2000Operational Assistance Grants to RBICs.
§ 4290.3000Non-leveraged RBICs—General.
§ 4290.3001-4290.3002§§ 4290.3001-4290.3002 [Reserved]
§ 4290.3003Responsibilities for implementing Non-leveraged RBICs.
§ 4290.3004§ 4290.3004 [Reserved]
§ 4290.3005Qualifications for the Non-leveraged RBIC Program.
§ 4290.3006-4290.3009§§ 4290.3006-4290.3009 [Reserved]
§ 4290.3010Application and Approval Process for RBIC licensing without Leverage.
§ 4290.3011-4290.3014§§ 4290.3011-4290.3014 [Reserved]
§ 4290.3015Evaluation and selection of Non-leveraged RBICs.
§ 4290.3016-4290.3019§§ 4290.3016-4290.3019 [Reserved]
§ 4290.3020Changes in Ownership, Structure, or Control.
§ 4290.3021-4290.3024§§ 4290.3021-4290.3024 [Reserved]
§ 4290.3025Managing the Operations of a RBIC.
§ 4290.3026-4290.3029§§ 4290.3026-4290.3029 [Reserved]
§ 4290.3030Financing of Enterprises by RBICs.
§ 4290.3031-4290.3034§§ 4290.3031-4290.3034 [Reserved]
§ 4290.3035Recordkeeping, Reporting, and Examination Requirements for RBICs.
§ 4290.3036-4290.3039§§ 4290.3036-4290.3039 [Reserved]
§ 4290.3040Financial Assistance for RBICs.
§ 4290.3041Events of default and the Agency's remedies for RBIC's noncompliance with terms of licensure.
§ 4290.3042-4290.3044§§ 4290.3042-4290.3044 [Reserved]
§ 4290.3045Computation of RBIC's Capital Impairment.
§ 4290.3046-4290.3049§§ 4290.3046-4290.3049 [Reserved]
§ 4290.3050Operational Assistance Grants for RBICs.
§ 4290.3051-4290.3099§§ 4290.3051-4290.3099 [Reserved]