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.)