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15 U.S.C. § 687d — Conflicts of interest

submitted 62 years ago by Pub. L. 85-699 to r/title-15-COMMERCE-AND-TRADE · 128 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section governs conflicts of interest. It sets the rules stated in the section.

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.

the actual law source: uscode.house.gov ↗public domain

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.

Source credit: (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.)

history & why it existsrecord from the source credit
  • 1964Enacted · Pub. L. 85-699 · 78 Stat. 147
  • 1976Amended · Pub. L. 94-305 · 90 Stat. 666
  • 1996Amended · Pub. L. 104-208 · 110 Stat. 3009
  • 2001Amended · Pub. L. 107-100 · 115 Stat. 966

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-699 on 1964-02-28.

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