Browse Arkansas Code titles and sections

15 U.S.C. § 684 — Equity capital for small-business concerns

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 684 — Equity capital for small-business concerns

**(a) Function of investment companies** It shall be a function of each small business investment company to provide a source of equity capital for incorporated and unincorporated small-business concerns, in such manner and under such terms as the small business investment company may fix in accordance with the regulations of the Administration. **(b) Conditions** Before any capital is provided to a small-business concern under this section— (1) the company may require such concern to refinance any or all of its outstanding indebtedness so that the company is the only holder of any evidence of indebtedness of such concern; and (2) except as provided in regulations issued by the Administration, such concern shall agree that it will not thereafter incur any indebtedness without first securing the approval of the company and giving the company the first opportunity to finance such indebtedness. **(c) Repealed. Pub. L. 90–104, title II, § 206, Oct. 11, 1967, 81 Stat. 271** **(d) Direct or cooperative provision of capital** Equity capital provided to incorporated small business concerns under this section may be provided directly or in cooperation with other investors, incorporated or unincorporated, through agreements to participate on an immediate basis.

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 684

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: d7672e9909eb27626822f4e3ae6c55f24e7a42f77a17837257aa232eb00c37c2. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_90c1b9a3c8864aca39afa748
Source file: Laws/federal/codes/united-states-code/title-15/section-684-equity-capital-for-small-business-concerns--2ee811a9f7.md
Pages: Not recorded – Not recorded
Passage SHA-256: 5dc7e53a886f62c7ba5dccd8310654da0159c96c236ffc4159768b42d2063d64

Source location: Title 15, Chapter 14B, § 684; chapter-14b-small-business-investment-program.md

Stored source content

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 681 — Organization

**(a) Incorporation and charter under State law, period of succession; area of operations** A small business investment company shall be an incorporated body, a limited liability company, or a limited partnership organized and chartered or otherwise existing under State law solely for the purpose of performing the functions and conducting the activities contemplated under this subchapter, which, if incorporated, has succession for a period of not less than thirty years unless sooner dissolved by its shareholders, and if a limited partnership, has succession for a period of not less than ten years, and possesses the powers reasonably necessary to perform such functions and conduct such activities. The area in which the company is to conduct its operations, and the establishment of branch offices or agencies (if authorized by the articles), shall be subject to the approval of the Administration. **(b) Articles of incorporation; approval** The articles of any small business investment company shall specify in general terms the objects for which the company is formed, the name assumed by such company, the area or areas in which its operations are to be carried on, the place where its principal office is to be located, and the amount and classes of its shares of capital stock. Such articles may contain any other provisions not inconsistent with this chapter that the company may see fit to adopt for the regulation of its business and the conduct of its affairs. Such articles and any amendments thereto adopted from time to time shall be subject to the approval of the Administration. **(c) Issuance of license** (1) **Submission of application** — Each applicant for a license to operate as a small business investment company under this chapter shall submit to the Administrato

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 681

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 1243 — Loss of small business investment company

In the case of a small business investment company operating under the Small Business Investment Act of 1958, if— (1) a loss is on stock received pursuant to the conversion privilege of convertible debentures acquired pursuant to section 304 of the Small Business Investment Act of 1958, and (2) such loss would (but for this section) be a loss from the sale or exchange of a capital asset, then such loss shall be treated as an ordinary loss.

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1243

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 684 — Equity capital for small-business concerns

Page 1099 TITLE 15—COMMERCE AND TRADE § 685 ‘‘(i) UNIFORM APPLICABILITY.—Any regulation issued by the Administration to implement section 303(e) of the Small Business Investment Act of 1958 [15 U.S.C. 683(e)] that applies to any licensee with outstanding le- verage obtained before the effective date of that regula- tion, shall apply uniformly to all licensees with out- standing leverage obtained before that effective date. ‘‘(ii) DEFINITIONS.—For purposes of this subparagraph, the terms ‘Administration’, ‘leverage’ and ‘licensee’ have the same meanings as in section 103 of the Small Business Investment Act of 1958 [15 U.S.C. 662].’’ EFFECT OF SMALL BUSINESS EQUITY ENHANCEMENT ACT OF 1992 ON SECURITIES LAWS Nothing in amendment by Pub. L. 102–366 to be con- strued to affect applicability of securities laws or to otherwise supersede or limit jurisdiction of Securities and Exchange Commission, see section 418 of Pub. L. 102–366, set out as a note under section 661 of this title. § 684. Equity capital for small-business concerns (a) Function of investment companies It shall be a function of each small business investment company to provide a source of eq- uity capital for incorporated and unincorporated small-business concerns, in such manner and under such terms as the small business invest- ment company may fix in accordance with the regulations of the Administration. (b) Conditions Before any capital is provided to a small-busi- ness concern under this section— (1) the company may require such concern to refinance any or all of its outstanding indebt- edness so that the company is the only holder of any evidence of indebtedness of such con- cern; and (2) except as provided in regulations issued by the Administration, such concern shall agree tha

Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 684

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.