Sec. 3. Protege EEIC program
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Part A of title III of the Small Business Investment Act of 1958 ( 15 U.S.C. 681 et seq. ), as amended by section 2, is further amended by adding at the end the following: The Administrator shall establish a program to be known as the Protege EEIC Program under which a manager with substantial experience in operating small business investment companies may enter into a written agreement approved by the Administrator to provide guidance and assistance to a Protege EEIC with respect to— applying for a license for the Protege EEIC to operate as an employee equity investment company; and management of the employee equity investment company after licensure.
After entering into a written agreement described in subsection (a), the Protege EEIC shall apply for a license under section 301. The Administrator may grant a license to a Protege EEIC to operate as an employee equity investment company under section 301 based on the investment track record of one or more of the managers that have entered into a written agreement described in subsection
(a)with the applicant Protege EEIC. If a manager enters into a written agreement described under subsection (a)— the manager may hold a minority financial interest in the employee equity investment company that is to be managed by the Protege EEIC; the otherwise applicable maximum amount of outstanding leverage that may be made available to any one licensed company of the manager under section 303(b)(2)(A) shall be increased by $17,500,000; and the otherwise applicable maximum amount of outstanding leverage that may be made available to any two or more licensed companies that are commonly controlled by the manager under section 303(b)(2)(B) shall be increased by $35,000,000. .
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Sec. 3
Protege EEIC program
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