HR 5019 · 99th Congress · Commerce
Corporation for Small Business Investment Charter Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Subcommittee Hearings Held.(1986-06-25)
Plain Language Summary
[AI summary unavailable — showing source text]
Corporation for Small Business Investment Charter Act - Amends the Small Business Investment Act of 1958 to include in the terms "small business investment company," "company," and "license" any company that is qualified to conduct business with the Corporation for Small Business Investment. Defines "small business concern" with respect to the Small Business Investment Act of 1958. Sets forth procedures for the qualification of small business investment companies (licensees) to conduct business with the Corporation for Small Business Investment and the termination, suspension, or revocation of the license of such companies that do not qualify under the provisions of this Act. Establishes the Corporation for Small Business Investment. Requires the President, within 60 days after enactment of this Act, to appoint an interim Board of Directors of the Corporation. Authorizes the Corporation to issue common and preferred stock and certain other obligations to small business investment companies. Authorizes the Secretary of the Treasury to purchase obligations issued by the Corporation. Exempts from U.S. securities laws all stocks and obligations issued by the Corporation. Deems the Corp…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
19 Democrats1 Republican