Small Business Investment Act: Text and Related Tax Provisions, Volumes 1-2

U.S. Government Printing Office, 1967 - 21 páginas
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Página 4 - Act, as amended, is amended — ( 1 ) by striking out the period at the end of "paragraph (5) "and inserting in lieu thereof "; and"; and (2) by adding after paragraph (5) a new paragraph as follows: "(6) to make such loans (either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis) as the Administration may determine to be necessary or appropriate to assist...
Página 7 - In the performance of, and with respect to, the functions, powers, and duties...
Página 14 - States a civil penalty of not more than $5,000 for each violation, which shall accrue to the United States and may be recovered in a civil action brought by the United States.
Página 19 - A small business Investment company which is licensed by the Small Business Administration and operating under the Small Business Investment Act of 1958 and which is actively engaged in the business of providing funds to small business concerns under that Act. This paragraph shall not apply if any shareholder of the small business investment company owns at any time during the taxable year directly or Indirectly (including, In the case of an individual...
Página 6 - ... may from time to time by its rules and regulations and subject to such terms and conditions as may be prescribed therein, add...
Página 5 - ... (3) In agreements to participate in loans on a deferred basis under this subsection, such participation by the Administration shall not be in excess of 90 per centum of the balance of the loan outstanding at the time of disbursement.
Página 8 - Whenever in the judgment of the Commission any person has engaged or is about to engage in any acts or practices which constitute or will constitute a violation...
Página 3 - They shall enter into articles of association, which shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with law, which the association may see fit to adopt for the regulation of its business and the conduct of its affairs.
Página 18 - SEC. 1242. LOSSES ON SMALL BUSINESS INVESTMENT COMPANY STOCK. "If— "(1) a loss is on stock in a small business investment company operating under the Small Business Investment Act of 1958...
Página 15 - The foregoing powers shall be subject, however, to the following restrictions and limitations: (1) No financial assistance shall be extended pursuant to this subsection unless the financial assistance applied for is not otherwise available on reasonable terms.

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