CITE
15 USC Sec. 80a-61 01/05/2009
EXPCITE
TITLE 15 - COMMERCE AND TRADE
CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I - INVESTMENT COMPANIES
HEAD
Sec. 80a-61. Loans
STATUTE
Notwithstanding the exemption set forth in section 80a-6(f) of
this title, section 80a-21 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 nothing in that section
shall be deemed to prohibit -
(1) any loan to a director, officer, or employee of, or general
partner in, a business development company for the purpose of
purchasing securities of such company as part of an executive
compensation plan, if such loan meets the requirements of section
80a-56(j) of this title; or
(2) any loan to a company controlled by a business development
company, which companies could be deemed to be under common
control solely because a third person controls such business
development company.
SOURCE
(Aug. 22, 1940, ch. 686, title I, Sec. 62, as added Pub. L. 96-477,
title I, Sec. 105, Oct. 21, 1980, 94 Stat. 2287.)