15 U.S.C. 683: Borrowing operations

2018

• Pub. L. 115–187 substituted "$175,000,000" for "$150,000,000". (Small Business Investment Opportunity Act of 2017) Law text · (b)

2015

• Pub. L. 114–113 substituted "$350,000,000" for "$225,000,000". (Consolidated Appropriations Act, 2016) Law text · (b)

2009

• Pub. L. 111–5, §505(a)(1), added subpars. (A) and (B) and struck out former subpars. (A) and (B) which set forth the maximum amount of outstanding leverage for a company with private capital of not more than $15,000,000, for a company with from $15,000,000 to $30,000,000 in … (American Recovery and Reinvestment Act of 2009) Law text · (b), (B)
• Pub. L. 111–5, §505(a)(2), designated existing provisions as cl. (i) and added cls. (ii) and (iii). (American Recovery and Reinvestment Act of 2009) Law text · (b)
• Pub. L. 111–5, §505(a)(3), struck out par. (4) which related to maximum aggregate amount of leverage. (American Recovery and Reinvestment Act of 2009) Law text · (b)
• Pub. L. 111–5, §505(c), amended subsec. (d) generally. Prior to amendment, subsec. (d) related to written certification that not less than 20 percent of the licensee's aggregate dollar amount of financings would be provided to smaller enterprises, required additional written certificat… (American Recovery and Reinvestment Act of 2009) Law text · (d)

2007

• Pub. L. 110–140, §1206(a), added subpar. (D). (Energy Independence and Security Act of 2007) Law text · (b)
• Pub. L. 110–140, §1206(b), added subpar. (E). (Energy Independence and Security Act of 2007) Law text · (b)
• Pub. L. 110–140, §1205(a), added subsec. (k). (Energy Independence and Security Act of 2007) Law text · (k)

2004

• Pub. L. 108–447 substituted "chapter" for "subsection" in first sentence and "from appropriate sources, as determined by the Administration" for "contingent upon and limited to the extent of earnings" in second sentence. (Consolidated Appropriations Act, 2005) Law text · (g)

2003

• Pub. L. 108–84 and Pub. L. 108–172 amended par. (2) identically, substituting "1.46 percent" for "1.38 percent". Law text · (g)

2001

• Pub. L. 107–100, §2(a)(1), in introductory provisions, substituted "September 30, 2001" for "September 30, 2000", struck out "of not more than 1 percent per year" after "annually by the Administration,", and inserted "which amount may not exceed 1.38 percent per year, and" before "whic… (Small Business Investment Company Amendments Act of 2001) Law text · (b)
• Pub. L. 107–100, §2(a)(2), substituted "September 30, 2001" for "September 30, 2000", struck out "of not more than 1 percent per year" after "annually by the Administration,", and inserted "which amount may not exceed 1.38 percent per year, and" before "which shall be paid". (Small Business Investment Company Amendments Act of 2001) Law text · (g)

2000

• Pub. L. 106–554, §1(a)(9) [title IV, §404(a)], in introductory provisions, substituted "plus, for debentures obligated after September 30, 2000, an additional charge, in an amount established annually by the Administration, of not more than 1 percent per year as necessary to reduce to … (Consolidated Appropriations Act, 2001) Law text · (b)
• Pub. L. 106–554, §1(a)(8) [§1(d)(1)], amended par. (2) generally, revising structure of par. from one consisting of introductory provisions and subpars. (A) to (D) to one consisting of subpars. (A) and (B), and adding subpar. (C). (Consolidated Appropriations Act, 2001) Law text · (b)
• Pub. L. 106–554, §1(a)(8) [§1(d)(2)], added subpar. (D). (Consolidated Appropriations Act, 2001) Law text · (b)
• Pub. L. 106–554, §1(a)(9) [title IV, §404(b)], substituted "plus, for participating securities obligated after September 30, 2000, an additional charge, in an amount established annually by the Administration, of not more than 1 percent per year as necessary to reduce to zero the co… (Consolidated Appropriations Act, 2001) Law text · (g)
• Pub. L. 106–554, §1(a)(9) [title IV, §405], substituted "subchapter S corporation" for "subchapter s corporation", "any time during any calendar quarter based on an" for "the end of any calendar quarter based on a quarterly", and "interim distributions for a calendar year," for "qua… (Consolidated Appropriations Act, 2001) Law text · (g)

1999

• Pub. L. 106–9 struck out heading and text of par. (13). Text read as follows: (Small Business Investment Improvement Act of 1999) Law text · (g)

1997

• Pub. L. 105–135, §215(b)(1)(A), added subpar. (D). (Small Business Reauthorization Act of 1997) Law text · (b)
• Pub. L. 105–135, §215(b)(1)(B), added par. (4) and struck out former par. (4) which read as follows: "In no event shall the aggregate amount of outstanding leverage of any such company or companies which are commonly controlled as determined by the Administration exceed $90,000,000,… (Small Business Reauthorization Act of 1997) Law text · (b)
• Pub. L. 105–135, §215(b)(2), added subsec. (d) and struck out heading and text of former subsec. (d). Text read as follows: "The Administrator shall require each licensee, as a condition of approval of an application for leverage, to certify in writing that not less than 20 percent of … (Small Business Reauthorization Act of 1997) Law text · (d)
• Pub. L. 105–135, §215(c), inserted at end "A company may also elect to make a distribution under this paragraph at the end of any calendar quarter based on a quarterly estimate of the maximum tax liability. If a company makes 1 or more quarterly distributions for a calendar year, an… (Small Business Reauthorization Act of 1997) Law text · (g)
• Pub. L. 105–135, §215(d), substituted "in the following manner: 1 percent upon the date on which the Administration enters into any commitment for such leverage with the licensee, and the balance of 2 percent (or 3 percent if no commitment has been entered into by the Administration) o… (Small Business Reauthorization Act of 1997) Law text · (i)

1996

• Pub. L. 104–208, §208(h)(1)(A)(i), substituted "securities," for "debenture bonds,". (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (a)
• Pub. L. 104–208, §208(d)(1), (6)(A), in first sentence struck out "(but only to the extent that the necessary funds are not available to said company from private sources on reasonable terms)" after "is authorized" and in fifth sentence substituted "1 percent, plus an additional charge… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (b)
• Pub. L. 104–208, §208(d)(2), inserted heading and amended text of subsec. (c) generally. Prior to amendment, text consisted of 7 pars. which authorized the Administration to purchase securities and to purchase or guarantee payments on debentures issued by small business investment comp… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (c)
• Pub. L. 104–208, §208(d)(3), inserted heading and amended text of subsec. (d) generally. Prior to amendment, text read as follows: "If the Administration guarantees debentures issued by a small business investment company operating under authority of section 681(d) of this title, it sh… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (d)
• Pub. L. 104–208, §208(d)(4)(A), inserted heading and amended text of subsec. (e) generally. Prior to amendment, text read as follows: "In determining the private capital of a small business investment company licensed under section 681(d) of this title and notwithstanding section 662(9… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (e)
• Pub. L. 104–208, §208(h)(1)(A)(ii), added subsec. (f) and struck out former subsec. (f) which read as follows: "Notwithstanding the provisions of any other law, rule, or regulation, the Administration is authorized to allow the issuer of any preferred stock heretofore sold to the Admin… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (f)
• Pub. L. 104–208, §208(d)(6)(B), substituted "1 percent, plus an additional charge of 1 percent per annum which shall be paid to and retained by the Administration" for "1 per centum, plus, at the time the guarantee is issued, such additional charge, if any, toward covering other cos… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (g)
• Pub. L. 104–208, §208(d)(5), struck out "and maintain" after "shall invest". (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (g)
• Pub. L. 104–208, §208(h)(1)(A)(iii), substituted "partners, shareholders, or members" for "partners or shareholders", "partner's, shareholder's, or member's" for "partner's or shareholder's", and "partner, shareholder, or member" for "partner or shareholder". (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (g)
• Pub. L. 104–208, §208(d)(6)(C), added subsecs. (i) and (j). (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (i), (j)

1994

• Pub. L. 103–403 added par. (13). · (g)

1992

• Pub. L. 102–366, §402(1), inserted "or participating securities" after "debentures" in first and sixth sentences. · (b)
• Pub. L. 102–366, §402(2), added pars. (1) to (4) and struck out former pars. (1) to (3) which read as follows: · (b)
• Pub. L. 102–366, §412(1), (2), struck out "preferred" before "securities" in first sentence and inserted at end "As used in this subsection, the term 'securities' means shares of nonvoting stock or other corporate securities or limited partnership interests which have similar character… · (c)
• Pub. L. 102–366, §412(3), in introductory provisions substituted "such securities" for "shares of nonvoting stock (or other corporate securities having similar characteristics)". · (c)
• Pub. L. 102–366, §402(3), inserted before period at end ", except as provided in paragraph (7)". · (c)
• Pub. L. 102–366, §402(4), added par. (7). · (c)
• Pub. L. 102–366, §413, inserted "licensed under section 681(d) of this title and notwithstanding section 662(9) of this title" after "company" and substituted "to November 21, 1989: Provided, That such companies may include in private capital for any purpose funds indirectly obtained f… · (e)
• Pub. L. 102–366, §403, added subsecs. (g) and (h). · (g), (h)

1990

• Pub. L. 101–574, §215(a)(1), amended last sentence generally. Prior to amendment, last sentence read as follows: "In no event shall the debentures of any such company purchased or guaranteed and outstanding under this paragraph exceed $35,000,000." · (b)
• Pub. L. 101–574, §215(b)(1), inserted "under the provisions of this subchapter," after "debentures or securities". · (c)
• Pub. L. 101–574, §215(b)(2), struck out after second sentence "The aggregate amount of debentures with interest rate reductions as provided in this subsection or as provided in section 687i of this title which may be outstanding at any time from any such company shall not exceed 200 pe… · (d)

1989

• Pub. L. 101–162 added subsec. (c) and struck out former subsec. (c) which contained provisions substantially similar to introductory provisions and pars. (1) to (4). · (c)
• Pub. L. 101–162 added subsecs. (d) to (f). · (d), (e), (f)

1978

• Pub. L. 95–507 increased the amount of preferred stock small business investment companies were authorized to sell to the Administration so long as such preferred stock leverage did not exceed 200 per centum of the qualified paid-in capital and so long as the amount of such stock pu… · (c)

1976

• Pub. L. 94–305, §104(a), substituted "300" for "200" and "$35,000,000" for "$15,000,000". · (b)
• Pub. L. 94–305, §104(b), substituted "400" for "300" and "$35,000,000" for "$20,000,000". · (b)
• Pub. L. 94–305, §104(c), substituted "400" for "300" and "300" for "200". · (c)
• Pub. L. 94–305, §104(c)(2), substituted "300" for "200". · (c)

1972

• Pub. L. 92–595, §2(c)(1), (2), substituted "combined private paid-in capital" for "combined paid-in capital" and "$15,000,000" for "$7,500,000". · (b)
• Pub. L. 92–595, §2(c)(3), substituted provisions relating to the purchase of debentures from companies not complying with section 681(d) of this title having investments or legal commitments of 65 per cent or more and whose combined private paid-in capital and paid-in surplus is $50… · (b)
• Pub. L. 92–595, §2(d), added subsec. (c). · (c)

1971

• Pub. L. 92–213 inserted provision for a guaranty authority for the Administration and inserted requirement that such guaranty authority of the Administration be exercised only when authorized in appropriation Acts, authorized the purchase or guaranty on such terms as the Administration… · (b)

1967

• Pub. L. 90–104 substituted purchase of debenture provisions of former section 682(a) of this title for former provision for loans (eliminating participation on deferred (standby) basis), incorporated subordination provision of such former section 682(a) (inserting provision for Adminis… · (b)

1964

• Pub. L. 88–273 provided for participation loans by Administration with lending institutions on an immediate or deferred basis and for a minimum interest rate measured by the average investment yield on marketable obligations of the United States outstanding at the time of the loan invo… · (b)

1961

• Pub. L. 87–341 limited the Administration's authorization to lend funds to the extent that the funds are not available to the company involved from private sources on reasonable terms, and the total amount of obligations, including commitments to purchase such obligations, which can be… · (b)