U.S. Code, Title 15, Commerce and Trade

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Author: "U.S. Congress, Office of the Law Revision Counsel"

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§ 80a–59. Functions and Activities of Business Development Companies

     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.

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

Section Referred to in Other Sections

     This section is referred to in sections 80a–2, 80a–6, 80a–53, 80a–60, 80b–2 of this title.

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