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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 15 U.S.C. § 687d Conflicts of interest us united_states_code code_section 15 COMMERCE AND TRADE 14B SMALL BUSINESS INVESTMENT PROGRAM 687d 15 U.S.C. § 687d current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s687d data/legal/raw/us/code/title-15/usc15.xml a0ac2566a80ac2cafcee72005a6961be4d51bb2d29086be25a409775492cb7a5 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 b52f9354bff861b3178bf61bae1548b18e6390c36a733478d108caacf1e529b1 2026-07-04 official
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15 U.S.C. § 687d - Conflicts of interest

Text

For the purpose of controlling conflicts of interest which may be detrimental to small business concerns, to small business investment companies, to the shareholders, partners, or members of either, or to the purposes of this chapter, the Administration shall adopt regulations to govern transactions with any officer, director, shareholder, partner, or member of any small business investment company, or with any person or concern, in which any interest, direct or indirect, financial or otherwise, is held by any officer, director, shareholder, partner, or member of (1) any small business investment company, or (2) any person or concern with an interest, direct or indirect, financial or otherwise, in any small business investment company. Such regulations shall include appropriate requirements for public disclosure necessary to the purposes of this section.

(Pub. L. 85699, title III, § 312, as added Pub. L. 88273, § 6(a), Feb. 28, 1964, 78 Stat. 147; amended Pub. L. 94305, title I, § 106(f), June 4, 1976, 90 Stat. 666; Pub. L. 104208, div. D, title II, § 208(h)(1)(D), Sept. 30, 1996, 110 Stat. 3009747; Pub. L. 107100, § 3, Dec. 21, 2001, 115 Stat. 966.)

Notes

Editorial Notes

References in TextFor definition of “this chapter”, referred to in text, see References in Text note set out under section 661 of this title.

Amendments2001—Pub. L. 107100 struck out “(including disclosure in the locality most directly affected by the transaction)” after “public disclosure”. 1996—Pub. L. 104208, § 208(h)(1)(D), substituted “shareholders, partners, or members” for “shareholders or partners” and substituted “shareholder, partner, or member” for “shareholder, or partner” in two places. 1976—Pub. L. 94305, § 106(f)(2), which directed the substitution of “shareholder, or partner” for “or shareholders” wherever appearing, was executed by making the substitution for “or shareholder” in two places to reflect the probable intent of Congress. Pub. L. 94305, § 106(f)(1), inserted “or partners” after “to the shareholders”.