View all text of Part B [§ 689 - § 689q]
§ 689n. Unlawful acts and omissions; breach of fiduciary duty
(a) Parties deemed to commit a violation
(b) Fiduciary duties
(c) Unlawful actsExcept with the written consent of the Administrator, it shall be unlawful—
(1) for any person to take office as an officer, director, or employee of any New Markets Venture Capital company, or to become an agent or participant in the conduct of the affairs or management of such a company, if the person—
(A) has been convicted of a felony, or any other criminal offense involving dishonesty or breach of trust; or
(B) has been found civilly liable in damages, or has been permanently or temporarily enjoined by an order, judgment, or decree of a court of competent jurisdiction, by reason of any act or practice involving fraud, or breach of trust; and
(2) for any person 1
1 So in original. Probably should be followed by “to”.
continue to serve in any of the capacities described in paragraph (1), if—(A) the person is convicted of a felony, or any other criminal offense involving dishonesty or breach of trust; or
(B) the person is found civilly liable in damages, or is permanently or temporarily enjoined by an order, judgment, or decree of a court of competent jurisdiction, by reason of any act or practice involving fraud or breach of trust.
(Pub. L. 85–699, title III, § 365, as added Pub. L. 106–554, § 1(a)(8) [§ 1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A–663.)