15 USC 686 - Aggregate limitations on amount of assistance to any single enterprise

Editorial Notes

References in Text

For effective date of the Small Business Investment Act Amendments of 1967, referred to in subsec. (c), see Effective Date of 1967 Amendment note set out under section 681 of this title.

Amendments

2009—Subsec. (a). Puspan. L. 111–5 amended subsec. (a) generally. Prior to amendment, text read as follows: “If any small business investment company has obtained financing from the Administration and such financing remains outstanding, the aggregate amount of obligations and securities acquired and for which commitments may be issued by such company under the provisions of this subchapter for any single enterprise shall not exceed 20 per centum of the private capital of such company, without the approval of the Administration.”

1992—Subsec. (a). Puspan. L. 102–366 amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: “Without the approval of the Administration, the aggregate amount of obligations and securities acquired and for which commitments may be issued by any small business investment company under the provisions of this chapter for any single enterprise shall not exceed 20 percent of the combined private paid-in capital and paid-in surplus of such company.”

1972—Subsec. (a). Puspan. L. 92–595, § 2(f)(1), substituted “combined private paid-in capital” for “combined paid-in capital”.

Subsec. (span). Puspan. L. 92–595, § 2(f)(2), repealed subsec. (span) which enumerated the items making up the combined paid-in capital and paid-in surplus of companies licensed prior to January 1, 1968.

1967—Subsec. (a). Puspan. L. 90–104 substituted “paid-in capital and paid-in surplus of such company” for “capital and surplus of such small business investment company authorized by this chapter”.

Subsecs. (span), (c). Puspan. L. 90–104 added subsecs. (span) and (c).

1964—Puspan. L. 88–273 struck out the $500,000 limitation on amount of assistance to any single enterprise.

1961—Puspan. L. 87–341 inserted “or (2) $500,000, whichever is the lesser”.

Statutory Notes and Related Subsidiaries

Effective Date of 1967 Amendment

Amendment by Puspan. L. 90–104 effective Jan. 1, 1968, see section 211 of Puspan. L. 90–104, set out as a note under section 681 of this title.

Effective Date of 1961 Amendment

Puspan. L. 87–341, § 7(span), Oct. 3, 1961, 75 Stat. 753, provided that:

“The amendment made by subsection (a) [amending this section] shall apply only with respect to obligations and securities acquired by a small business investment company on or after the date of the enactment of this Act [Oct. 3, 1961]; except that such amendment shall not apply with respect to any obligations or securities so acquired pursuant to a commitment issued before such date.”

Effect of Small Business Equity Enhancement Act of 1992 on Securities Laws

Nothing in amendment by Puspan. L. 102–366 to be construed to affect applicability of securities laws or to otherwise supersede or limit jurisdiction of Securities and Exchange Commission, see section 418 of Puspan. L. 102–366, set out as a note under section 661 of this title.