2016 US Code
Title 15 - Commerce and Trade
Chapter 14B - Small Business Investment Program
Subchapter III - Investment Division Programs
Part B - New Markets Venture Capital Program
Sec. 689d - Debentures
| 15 U.S.C. § 689d (2016) |
| §689d. Debentures |
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(a) In general
The Administrator may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any New Markets Venture Capital company. (b) Terms and conditionsThe Administrator may make guarantees under this section on such terms and conditions as it deems appropriate, except that the term of any debenture guaranteed under this section shall not exceed 15 years. (c) Full faith and credit of the United StatesThe full faith and credit of the United States is pledged to pay all amounts that may be required to be paid under any guarantee under this part. (d) Maximum guarantee (1) In generalUnder this section, the Administrator may guarantee the debentures issued by a New Markets Venture Capital company only to be 1 extent that the total face amount of outstanding guaranteed debentures of such company does not exceed 150 percent of the private capital of the company, as determined by the Administrator. For the purposes of paragraph (1), private capital shall include capital that is considered to be Federal funds, if such capital is contributed by an investor other than an agency or department of the Federal Government. In this subsection, the term "covered New Markets Venture Capital company" means a New Markets Venture Capital company— (A) granted final approval by the Administrator under section 689c(e) of this title on or after March 1, 2002; and (B) that has obtained a financing from the Administrator. Except to the extent approved by the Administrator, a covered New Markets Venture Capital company may not acquire or issue commitments for securities under this subchapter for any single enterprise in an aggregate amount equal to more than 10 percent of the sum of— (A) the regulatory capital of the covered New Markets Venture Capital company; and (B) the total amount of leverage projected in the participation agreement of the covered New Markets Venture Capital. |
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(Pub. L. 85–699, title III, §355, as added Pub. L. 106–554, §1(a)(8) [§1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A–658; amended Pub. L. 111–240, title I, §1115, Sept. 27, 2010, 124 Stat. 2508.) |
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AMENDMENTS
2010—Subsec. (e). Pub. L. 111–240 added subsec. (e). |
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1 So in original. Probably should be "the". |
| United States Code, 2012 Edition, Supplement 4, Title 15 - COMMERCE AND TRADE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 15 - COMMERCE AND TRADE CHAPTER 14B - SMALL BUSINESS INVESTMENT PROGRAM SUBCHAPTER III - INVESTMENT DIVISION PROGRAMS Part B - New Markets Venture Capital Program Sec. 689d - Debentures |
| section 689d |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 114 Stat. 2763 124 Stat. 2508 |
| Public Law 85-699, Public Law 106-554, Public Law 111-240 |
