2011 US Code
Title 15 - Commerce and Trade
Chapter 2D - INVESTMENT COMPANIES AND ADVISERS (§§ 80a-1 - 80b-21)
Subchapter I - INVESTMENT COMPANIES (§§ 80a-1 - 80a-64)
Section 80a-53 - Election to be regulated as business development company
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 5, Title 15 - COMMERCE AND TRADE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS SUBCHAPTER I - INVESTMENT COMPANIES Sec. 80a-53 - Election to be regulated as business development company |
Contains | section 80a-53 |
Date | 2011 |
Laws in Effect as of Date | January 3, 2012 |
Positive Law | No |
Disposition | standard |
Source Credit | Aug. 22, 1940, ch. 686, title I, §54, as added Pub. L. 96-477, title I, §105, Oct. 21, 1980, 94 Stat. 2278; amended Pub. L. 100-181, title VI, §625, Dec. 4, 1987, 101 Stat. 1262. |
Statutes at Large References | 94 Stat. 2278 101 Stat. 1262 |
Public Law References | Public Law 96-477, Public Law 100-181 |
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Any company defined in section 80a–2(a)(48)(A) and (B) of this title may elect to be subject to the provisions of sections 80a–54 through 80a–64 of this title by filing with the Commission a notification of election, if such company—
(1) has a class of its equity securities registered under section 78l of this title; or
(2) has filed a registration statement pursuant to section 78l of this title for a class of its equity securities.
(b) Form and manner of notification; effectThe Commission may, by rule, prescribe the form and manner in which notification of election under this section shall be given. A business development company shall be deemed to be subject to sections 80a–54 through 80a–64 of this title upon receipt by the Commission of such notification of election.
(c) Revocation or withdrawal of electionWhenever the Commission finds, on its own motion or upon application, that a business development company which has filed a notification of election pursuant to subsection (a) of this section has ceased to engage in business, the Commission shall so declare by order revoking such company's election. Any business development company may voluntarily withdraw its election under subsection (a) of this section by filing a notice of withdrawal of election with the Commission, in a form and manner which the Commission may, by rule, prescribe. Such withdrawal shall be effective immediately upon receipt by the Commission.
(Aug. 22, 1940, ch. 686, title I, §54, as added Pub. L. 96–477, title I, §105, Oct. 21, 1980, 94 Stat. 2278; amended Pub. L. 100–181, title VI, §625, Dec. 4, 1987, 101 Stat. 1262.)
Amendments1987—Subsec. (a). Pub. L. 100–181 substituted “defined in section” for “defined in sections”.
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