CITE

    15 USC Sec. 80a-59                                          01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
    SUBCHAPTER I - INVESTMENT COMPANIES

HEAD

    Sec. 80a-59. Functions and activities of business development
      companies

STATUTE

      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.

SOURCE

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