Sec. 12626. Rural business investment program
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Section 384A of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2009cc ) is amended— in paragraph (2)— in the paragraph heading, by striking ; and venture by striking venture ; and by striking paragraph
(4)and inserting the following: The term equity capital means— common or preferred stock or a similar instrument, including subordinated debt with equity features; and any other type of equity-like financing that might be necessary to facilitate the purposes of this Act, excluding financing such as senior debt or other types of financing that competes with routine loanmaking of commercial lenders. . Section 384B of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2009cc–1 ) is amended— in paragraph (1), by striking venture ; and in paragraph (2)— in the matter preceding subparagraph (A), by striking venture ; and in subparagraph (B), by striking venture . Section 384D(b)(1) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2009cc–3(b)(1) ) is amended by striking developmental venture and inserting developmental . Section 384G of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2009cc–6 ) is amended— in subsections
(a)and (b), by striking a fee that does not exceed $500 each place it appears and inserting such fees as the Secretary considers appropriate, so long as those fees are proportionally equal for each rural business investment company, ; and in subsection (c)(2)— in subparagraph (B), by striking solely to cover the costs of licensing examinations and inserting as the Secretary considers appropriate ; and by striking subparagraph
(C)and inserting the following: shall be in such amounts as the Secretary considers appropriate. . Section 384J(c) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2009cc–9(c) ) is amended by striking 25 and inserting 50 . Section 384J(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2009cc–9(a) ) is amended— by redesignating paragraphs
(1)and
(2)as subparagraphs
(A)and (B), respectively, and indenting appropriately; by striking the subsection designation and heading and all that follows through Except as in the matter preceding subparagraph
(A)(as so redesignated) and inserting the following: Except as ; and by adding at the end the following: The Secretary may not require that an entity described in paragraph
(1)provide investment or capital that is not required of other companies eligible to apply to operate as a rural business investment company under section 384D(a). .
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U.S. Code
5 references not yet in our index
- 7 USC 2009cc–1
- 7 USC 2009cc–3(b)(1)
- 7 USC 2009cc–6
- 7 USC 2009cc–9(c)
- 7 USC 2009cc–9(a)
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Sec. 12626
Rural business investment program
Cite7 USC 2009cc–1
Cite7 USC 2009cc–3(b)(1)
Cite7 USC 2009cc–6
Cite7 USC 2009cc–9(c)
Cite7 USC 2009cc–9(a)
Cites 6Cited by 0 across 0 sources