Page:United States Statutes at Large Volume 81.djvu/303

 81 STAT.]

269

PUBLIC LAW 90-104-OCT. 11, 1967

SEC. 106. Paragraph (13) of section 8(b) of the Small Business Act is amended to read as follows: "(13) to establish such advisory boards and committees as may be necessary to achieve the purposes of this Act and of the Small Business Investment Act of 1958; to call meetings of such boards and committees from time to time; to pay the transportation expenses and a per diem allowance in accordance with section 5703 of title 5, United States Code, to the members of such boards and committees for travel and subsistence expenses incurred at the request of the Administration in connection with travel to points more than fifty miles distant from the homes of such members in attending the meetings of such boards and committees; and to rent temporarily, within the District of Columbia or elsewhere, such hotel or other accommodations as are needed to facilitate the conduct of such meetings; and". SEC. 107. Section 8(b) of the Small Business Act is amended— (1) by striking out "and" at the end of paragraph (13); (2) by striking out the period at the end of paragraph (14), by inserting "; and" in lieu thereof, and by adding the following new paragraph: " (15) to disseminate, without regard to the provisions of section 4154 of title 39, United States Code, data and information, in such form as it shall deem appropriate, to public agencies, private organizations, and the general public." SEC. 108. The subsection added to section 402 of the Economic Opportunity Act of 1964 by section 405 of the Economic Opportunity Amendments of 1966 (Public Law 89-794), and designated thereby as subsection (b), is redesignated as subsection (c).

Advisory boards. 72 Stat. 3 9 1. 15 USC 637.

72 Stat. 689. 15 USC 661 note.

80 Stat. 499.

,L.-''f

Information, dissemination. 74 Stat. 6 6 1.

80 Stat. 1465. 42 USC 2902.

TITLE II SEC. 201. This title may be cited as the "Small Business Investment Act Amendments of 1967". SEC. 202. Section 301(c) of the Small Business Investment Act of 1958 is amended to read as follows: "(c) The articles of incorporation and amendments thereto shall be forwarded to the Administration for consideration and approval or disapproval. I n determining whether to approve such a company's articles of incorporation and permit it to operate under the provisions of this Act, the Administration shall give due regard, among other things, to the need and availability for the financing of small business concerns in the geographic area in which the proposed company is to commence business, the general business reputation and character of the proposed owners and management of the company, and the probability of successful operations of such company including adequate profitability and financial soundness. After consideration of all relevant factors, if it approves the company's articles of incorporation, the Administration may in its discretion approve the company to operate under the provisions of this Act and issue the company a license for such operation." SEC. 203. (a) Section 302(a) of the Small Business Investment Act of 1958 is amended to read as follows: "SEC. 302. (a) Each company authorized to operate under this Act shall have a combined private paid-in capital and paid-in surplus in an amount (1) not less than $150,000, and (2) adequate to assure a reasonable prospect that the company will be operated soundly and profitably, and managed actively and prudently in accordance with its articles of incorporation." (b) The heading of section 302 of such Act is amended to read as follows: "CAPITAL REQUIREMENTS".

Small B u s i n e s s Investment Act Amendments of 1967. Articles of incorporation. Criteria for approval. 72 Stat. 6 9 1. 15 USC 6 8 1.

Capital and s u r p l u s, minimum requirements. 15 USC 682.

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