§ 80a-63. — Accounts and records.
[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-63]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2D--INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I--INVESTMENT COMPANIES
Sec. 80a-63. Accounts and records
(a) Exception for business development company
Notwithstanding the exemption set forth in section 80a-6(f) of this
title, section 80a-30 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 reference to the
financial statements required to be filed pursuant to section 80a-29 of
this title shall be construed to refer to the financial statements
required to be filed by such business development company pursuant to
section 78m of this title.
(b) Risk factors statement; availability
(1) In addition to the requirements of subsection (a) of this
section, a business development company shall file with the Commission
and supply annually to its shareholders a written statement, in such
form and manner as the Commission may, by rule, prescribe, describing
the risk factors involved in an investment in the securities of a
business development company due to the nature of such company's
investment portfolio and capital structure, and shall supply copies of
such statement to any registered broker or dealer upon request.
(2) If the Commission finds it is necessary or appropriate in the
public interest and consistent with the protection of investors and the
purposes fairly intended by the policy and provisions of this
subchapter, the Commission may also require, by rule, any person who,
acting as principal or agent, sells a security of a business development
company to inform the purchaser of such securities, at or before the
time of sale, of the existence of the risk statement prepared by such
business development company pursuant to this subsection, and make such
risk statement available on request. The Commission, in making such
rules and regulations, shall consider, among other matters, whether any
such rule or regulation would impose any unreasonable burdens on such
brokers or dealers or unreasonably impair the maintenance of fair and
orderly markets.
(Aug. 22, 1940, ch. 686, title I, Sec. 64, as added Pub. L. 96-477,
title I Sec. 105, Oct. 21, 1980, 94 Stat. 2289; amended Pub. L. 104-290,
title V, Sec. 507, Oct. 11, 1996, 110 Stat. 3446.)
Amendments
1996--Subsec. (b)(1). Pub. L. 104-290 inserted ``and capital
structure'' after ``portfolio''.
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.
