Sec. 16. Conflicts of interest
193 words·~1 min read·
/bill/119/hr/3248/ih/section-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purpose of controlling conflicts of interest that may be detrimental to covered business concerns, to licensees, to the shareholders, partners, or members of either, or to the purposes of this Act, the Secretary shall adopt regulations to govern transactions with any officer, director, shareholder, partner, or member of any licensee, 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 any licensee, or any person or concern with an interest, direct or indirect, financial or otherwise, in any licensee. Regulations adopted under subsection
(a)shall include appropriate requirements for public disclosure necessary to the purposes of this section. In making any initial determination relating to a regulation adopted under subsection (a), the Secretary shall consult the regulations promulgated by the Administrator of the Small Business Administration on financing which constitute conflicts of interest in accordance with section 312 of the Small Business Investment Act of 1958 ( 15 U.S.C. 687d ). The Secretary shall promulgate regulations under this section in accordance with the implementation milestones as set forth in section 3(l) of this Act.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 16
Conflicts of interest
Cites 1Cited by 0 across 0 sources