FEDERAL · 15 U.S.C. · Chapter 2D
Qualifications of directors
15 U.S.C. § 80a–55
Title15 — Commerce and Trade
Chapter2D — INVESTMENT COMPANIES AND ADVISERS
SubchapterI
Current throughPub. L. 119-99
This text of 15 U.S.C. § 80a–55 (Qualifications of directors) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
15 U.S.C. § 80a–55.
Text
(a)Non-interested persons
A majority of a business development company's directors or general partners shall be persons who are not interested persons of such company.
(b)Vacancies; suspension of provisions
If, by reason of the death, disqualification, or bona fide resignation of any director or general partner, a business development company does not meet the requirements of subsection (a) of this section, or the requirements of section 80a–15(f)(1) of this title with respect to directors, the operation of such provisions shall be suspended for a period of 90 days or for such longer period as the Commission may prescribe, upon its own motion or by order upon application, as not inconsistent with the protection of investors.
Free access — add to your briefcase to read the full text and ask questions with AI
Related
§ 80a
15 U.S.C. § 80a
Source Credit
History
(Aug. 22, 1940, ch. 686, title I, §56, as added Pub. L. 96–477, title I §105, Oct. 21, 1980, 94 Stat. 2280.)
Cite This Page — Counsel Stack
Bluebook (online)
15 U.S.C. § 80a–55, Counsel Stack Legal Research, https://law.counselstack.com/usc/15/80a–55.