Conflicts of interest

  1. Law
  2. USC 15
  3. Commerce And Trade
  4. SMALL BUSINESS INVESTMENT PROGRAM
  5. INVESTMENT DIVISION PROGRAMS
  6. Small Business Investment Companies
  7. Conflicts of interest

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§687d. Conflicts of interest

For the purpose of controlling conflicts of interest which may be detrimental to small business concerns, to small business investment companies, to the shareholders, partners, or members of either, or to the purposes of this chapter, the Administration shall adopt regulations to govern transactions with any officer, director, shareholder, partner, or member of any small business investment company, 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 (1) any small business investment company, or (2) any person or concern with an interest, direct or indirect, financial or otherwise, in any small business investment company. Such regulations shall include appropriate requirements for public disclosure necessary to the purposes of this section.

(Pub. L. 85–699, title III, §312, as added Pub. L. 88–273, §6(a), Feb. 28, 1964, 78 Stat. 147 ; amended Pub. L. 94–305, title I, §106(f), June 4, 1976, 90 Stat. 666 ; Pub. L. 104–208, div. D, title II, §208(h)(1)(D), Sept. 30, 1996, 110 Stat. 3009–747 ; Pub. L. 107–100, §3, Dec. 21, 2001, 115 Stat. 966 .)

References in Text

For definition of "this chapter", referred to in text, see References in Text note set out under section 661 of this title.

Amendments

2001-Pub. L. 107–100 struck out "(including disclosure in the locality most directly affected by the transaction)" after "public disclosure".

1996-Pub. L. 104–208, §208(h)(1)(D), substituted "shareholders, partners, or members" for "shareholders or partners" and substituted "shareholder, partner, or member" for "shareholder, or partner" in two places.

1976-Pub. L. 94–305, §106(f)(2), which directed the substitution of "shareholder, or partner" for "or shareholders" wherever appearing, was executed by making the substitution for "or shareholder" in two places to reflect the probable intent of Congress.

Pub. L. 94–305, §106(f)(1), inserted "or partners" after "to the shareholders".


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