15 U.S.C. § 80a–59 — Functions and activities of business development companies

FEDERAL · 15 U.S.C. · Chapter 2D

Functions and activities of business development companies

Current through Pub. L. 119-102

Title 15 — Commerce and Trade·Ch. 2D — INVESTMENT COMPANIES AND ADVISERS·Subch. I

Notwithstanding the exemption set forth in section 80a–6(f) of this title, section 80a–12 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 the Commission shall not prescribe any rule, regulation, or order pursuant to section 80a–12(a)(1) of this title governing the circumstances in which a business development company may borrow from a bank in order to purchase any security.

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Notwithstanding the exemption set forth in section 80a–6(f) of this title, section 80a–12 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 the Commission shall not prescribe any rule, regulation, or order pursuant to section 80a–12(a)(1) of this title governing the circumstances in which a business development company may borrow from a bank in order to purchase any security.

15 U.S.C. § 80a–59 (Functions and activities of business development companies) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Aug. 22, 1940, ch. 686, title I, §60, as added Pub. L. 96–477, title I, §105, Oct. 21, 1980, 94 Stat. 2285.)

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History