Section 57-10-21 - Conditions of loans to small business investment companiesAny loans by the corporation to a small business investment company or minority enterprise small business investment company, shall be conditioned on the following:
(a) A loan to a small business investment company or minority enterprise small business investment company shall not exceed the amount of its outstanding portfolio investments or the amount of its private paid-in capital and paid-in surplus, whichever is less.(b) The small business investment company or minority enterprise small business investment company must agree that the entire loan will be invested in firms located in this state.(c) The repayment period for any such loan shall not exceed fifteen (15) years but such loans need not be amortized.(d) Such other conditions as may be prescribed by the board of directors of the corporation.Codes, 1942, § 8940-113; Laws, 1972, ch. 439, § 13, eff. 5/4/1972.