15-U.S.C.-80A-55

§80A-55 – §80A-55. Qualifications of Directors

Pathway

Title 15 > Chapter 2D > Subchapter I > Section 80a-55

Details

• Reference: Section 80a-55
• Legend: §80A-55 – §80A-55. Qualifications of Directors
• USCode Year: 2013

Provision Content

(a) Non-interested persons

A majority of a business development companys directors or general partners shall be persons who are not interested persons of such company.

(b) Vacancies; suspension of provisions

If, by reason of the death, disqualification, or bona fide resignation of any director or general partner, a business development company does not meet the requirements of subsection (a) of this section, or the requirements of section 80a–15(f)(1) of this title with respect to directors, the operation of such provisions shall be suspended for a period of 90 days or for such longer period as the Commission may prescribe, upon its own motion or by order upon application, as not inconsistent with the protection of investors.

(Aug. 22, 1940, ch. 686, title I, §56, as added Pub. L. 96–477, title I §105, Oct. 21, 1980, 94 Stat. 2280.)

U.S. Encyclopedia of Law Coverage

15-U.S.C.-80A-35 in the Legal Encyclopedia: Trade Law

In this entry about 15-U.S.C.-80A-35, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.

15-U.S.C.-80A-51 in the Legal Encyclopedia: Investment

In this entry about 15-U.S.C.-80A-51, find legal reference material, bibliographies and premiere content related to investment in the American Encyclopedia of Law, presenting a comprehensive view of the United States investment-specific issues, written by authorities in the field.

Topic Map

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