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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. § 80a61 Loans us united_states_code code_section 15 COMMERCE AND TRADE 2D INVESTMENT COMPANIES AND ADVISERS 80a61 15 U.S.C. § 80a61 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/s80a61 data/legal/raw/us/code/title-15/usc15.xml ef9712de7c8299b239a245647b13f4248b4a7aa07912a2687604ac36f720a436 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 4c7a577b75302a13d8eda9de7805e6969e753c06933e7c873499bd89cc9d8775 2026-07-04 official
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15 U.S.C. § 80a61 - Loans

Text

Notwithstanding the exemption set forth in section 80a6(f) of this title, section 80a21 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 80a56(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, § 62, as added Pub. L. 96477, title I, § 105, Oct. 21, 1980, 94 Stat. 2287.)