Title 12

SECTION 7.1015

7.1015 National bank receipt of stock from a small business investment company.

§ 7.1015 National bank receipt of stock from a small business investment company. Link to an amendment published at 85 FR 83728, Dec. 22, 2020.

A national bank may purchase the stock of a small business investment company (SBIC) (see 15 U.S.C. 682(b)), and may receive the benefits of such stock ownership (e.g., stock dividends). The receipt and retention of a dividend by a national bank from an SBIC in the form of stock of a corporate borrower of the SBIC is not a purchase of stock within the meaning of 12 U.S.C. 24 (Seventh).

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