Page:United States Statutes at Large Volume 90 Part 1.djvu/716

 90 STAT. 666

PUBLIC LAW 94-305—JUNE 4, 1976 SMALL BUSINESS INVESTMENT COMPANY GUARANTEES

Repeal.

15 USC 685.

SEC. 105. The last sentence of section 305(b) of the Small Business Investment Act of 1958 is repealed. L I C E N S I N G O P NONCORPORATE SMALL BUSINESS INVESTMENT COMPANIES

15 USC 662.

"Articles."

SEC. 106. (a) Section 103 of the Small Business Investment Act of 1958 is amended by striking out "and" at the end of clause (6) and inserting in lieu thereof a semicolon, by striking out the period at the end of clause (7) and inserting in lieu thereof a semicolon and "and", and by adding at the end the following: "(8) the term 'articles' means articles of incorporation for an incorporated body and means the functional equivalent or other similar documents specified by the Administrator for other busiIIGSS c n t i t i G s "

15 USC 681.

15 USC 682. 15 USC 687(1.

(b) Section 301(a) of such Act is amended— (1) by striking the comma and inserting "or a limited partnership" after "incorporated body"; (2) by inserting "or otherwise existing" after "chartered"; (3) by inserting "or partners" after "shareholders"; and (4) by striking the words "of incorporation". (c) Section 301(b) of such Act is amended by striking the words "of incorporation". (d) Section 301(c) of such Act is amended by striking the words "of incorporation" wherever they appear therein. (e) Section 302(a) of such Act is amended by striking the words "of incorporation". (f) Section 312 of such Act is amended— (1) by inserting "or partners" after "shareholders"; and (2) by striking "or shareholders" wherever it appears therein and by inserting "shareholder, or partner". REPEAL OF 50 PERCENT LIMITATION ON BANK INVESTMENT

15 USC 682.

S E C 107. Section 302(b) of the Small Business Investment Act of 1958 is amended by striking out all that follows "upon the making of that acquisition", and inserting in lieu thereof the following: "the aggregate amount of shares in small business investment companies then held by the bank would exceed 5 percent of its capital surplus.". LOANS FOR PLANT ACQUISITION

15 USC 696. 15 USC 636.

SEC. 108, (a) Section 502 of the Small Business Investment Act of 1958 is amended by inserting "acquisition," after "plant". (b) Section 7(a)(4)(C) of the Small Business Act is amended to read as follows: " (C) no such loans including renewals and extensions thereof may be made for a period or periods exceeding ten years, except that such portion of a loan made for the purpose of acquiring real property or constructing facilities may have a maturity of twenty years plus such additional period as is estimated may be required to complete such construction.". E C O N O M I C OPPORTUNITY LOAN L I M I T

15 USC 636.

SEC. 109. Section 7(i) of the Small Business Act is amended by striking from paragraphs (1) and (3) thereof the figure "$50,000" and inserting in lieu thereof the figure "$100,000".

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