15-U.S.C.-80A-63
§80A-63 – §80A-63. Accounts and Records
Pathway
Title 15 > Chapter 2D > Subchapter I > Section 80a-63
Details
- Reference: Section 80a-63
- Legend: §80A-63 – §80A-63. Accounts and Records
- USCode Year: 2013
Provision Content
(a) Exception for business development company
Notwithstanding the exemption set forth in section 80a–6(f) of this title, section 80a–30 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 the reference to the financial statements required to be filed pursuant to section 80a–29 of this title shall be construed to refer to the financial statements required to be filed by such business development company pursuant to section 78m of this title.
(b) Risk factors statement; availability
(1) In addition to the requirements of subsection (a) of this section, a business development company shall file with the Commission and supply annually to its shareholders a written statement, in such form and manner as the Commission may, by rule, prescribe, describing the risk factors involved in an investment in the securities of a business development company due to the nature of such companys investment portfolio and capital structure, and shall supply copies of such statement to any registered broker or dealer upon request.
(2) If the Commission finds it is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of this subchapter, the Commission may also require, by rule, any person who, acting as principal or agent, sells a security of a business development company to inform the purchaser of such securities, at or before the time of sale, of the existence of the risk statement prepared by such business development company pursuant to this subsection, and make such risk statement available on request. The Commission, in making such rules and regulations, shall consider, among other matters, whether any such rule or regulation would impose any unreasonable burdens on such brokers or dealers or unreasonably impair the maintenance of fair and orderly markets.
(Aug. 22, 1940, ch. 686, title I, §64, as added Pub. L. 96–477, title I §105, Oct. 21, 1980, 94 Stat. 2289; amended Pub. L. 104–290, title V, §507, Oct. 11, 1996, 110 Stat. 3446.)
Amendments
1996—Subsec. (b)(1). Pub. L. 104–290 inserted and capital structure after portfolio.
U.S. Encyclopedia of Law Coverage
15-U.S.C.-80A-57 in the Legal Encyclopedia: Trade Law
In this entry about 15-U.S.C.-80A-57, 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.
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