15 U.S.C. § 687d

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 687d - Conflicts of interest

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.

15 U.S.C. § 687d

Pub. L. 85-699, title III, §312, as added Pub. L. 88-273, §6(a), Feb. 28, 1964, 78 Stat. 147; amended Pub. L. 94-305, title I, §106(f), June 4, 1976, 90 Stat. 666; Pub. L. 104-208, div. D, title II, §208(h)(1)(D), Sept. 30, 1996, 110 Stat. 3009-747; Pub. L. 107-100, §3, Dec. 21, 2001, 115 Stat. 966.

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. 107-100 struck out "(including disclosure in the locality most directly affected by the transaction)" after "public disclosure". 1996- Pub. L. 104-208, §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. 94-305, §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. 94-305, §106(f)(1), inserted "or partners" after "to the shareholders".

Administration

the term "Administration" means the Small Business Administration;

member

the term "member" means, with respect to a licensee that is a limited liability company, a holder of an ownership interest or a person otherwise admitted to membership in the limited liability company;