Page:United States Statutes at Large Volume 78.djvu/189

 78 STAT. ]

PUBLIC LAW 88-274-FEB. 29, 1964

under the provisions of this Act for any single enterprise shall not exceed 20 per centum of the combined capital and surplus of such small business investment company authorized by this Act." SEC. 5. The last sentence of section 308(b) of the Small Business Investment Act of 1958 is amended to read as follows: "Such companies may invest funds not reasonably needed for their current operations in direct obligations of, or obligations guaranteed as to principal and interest by, the United States, or in insured savings accounts ( u p to the amount of the insurance) in any institution the accounts of which are insured by the Federal Savings and Loan Insurance Corporation." SEC. 6. (a) The Small Business Invesnuent Act of 1958 is further amended by adding at the end of title 111 a new section as follows:

147

Investment of funds. 15 USC 687.

72 Stat. 691; 75 Stat. 7 53. 15 USC 681687c.

"•a)NFLICTS OF INTKKEvST

"SEC. 312. For the purjx)se of controlling conflicts of interest which may be detrimental to small business ccmcenis, to small business investment companies, to the shareholders of either, or to the purposes of this Act, the Administration shall adopt regulations to govern transactions with any officer, director, or shareholdei- of any small business investment company, or with any pereou or concern, in which any interest, direct or indirect, financial or otherwise, is held by any officer, director, or shareholder 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 appi-opriate requirements for public disclosure (including disclosure in the locality most directly affected by the transaction) necessary to the purposes of this section.'' (b) That part of the Table of Contents of such Act which describes the matter included in title III is amended by adding at the end thereof the following: "Sec. 312. Conflicts of interest."

Approved February 28, 1964.

Public Law 88-274 AN ACT

February 29, 1964

To r«'Ii*!V«r (IM- Velerjins' Adiniuistnitinii from pjiying interest on (he amount of csiiiital fuiuls tniiisferrefl in lisciil yeur VM'2 from this direct loan revolving fund to the liHii Ktiaranty revolvinjr fund.

[S. 2064]

fie it eMdctrd by the Senate <ind Honm of liepre^ientdtlveH of the Veterans* United Stdtea of Amerka in Congress a^f^eitibled^ I'hat section 1823(b) ministration.Adof title 38, United States Code, is amended by adding at the end Interest on capthereof the following sentence: "The.\diniiiistrator shall not be ital funds.1214. 72 Stat. required to pay interest oii transferS made pursuant to the Act of February 13, 19(52 (76 Stat. 8), from the capital of the 'direct loans to veterans and reserves revolving fiuid' to the 'loan guaranty revolving fund' ajid adjustments shall be made for payments of interest on such transfers l>efore the date of enactment of this sentence." Approved February 29, 1964.

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