Small Business Investment Incentive Act of 1979

[AI summary unavailable — showing source text] Small Business Investment Incentive Act of 1979 - Amends the Securities Act of 1933 to include within the private offering exemption from full registration any transaction involving securities bearing a legend stating that such securities may not be sold or transferred except to accredited investors provided all purchasers of such securities are accredited investors or persons the issuer reasonably believes to be accredited investors and there is no general advertising or solicitation in connection with the transaction. Defines the term "accredited investor" to include: (1) banks, insurance companies, investment companies and their subsidiaries, and any fund, trust or account administered by a bank or insurance company; (2) persons designated by regulation of the Securities and Exchange Commission on the basis of expertise or net worth; and (3) persons who rely on the investment advice of a qualified accredited investor. States that a person engaging in the sale or distribution of restricted securities (securities acquired in a transaction or chain of transactions not involving any public offering) shall not be considered an underwriter if such person has been the beneficial owner …