§ 80a-61. — Loans.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC80a-61]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2D--INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I--INVESTMENT COMPANIES
Sec. 80a-61. Loans
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.
(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.)
Section Referred to in Other Sections
This section is referred to in sections 80a-2, 80a-6, 80a-53, 80a-
56, 80a-60, 80b-2 of this title.
