15 USC 689h: Bank participation
Text contains those laws in effect on April 24, 2024
From Title 15-COMMERCE AND TRADECHAPTER 14B-SMALL BUSINESS INVESTMENT PROGRAMSUBCHAPTER III-INVESTMENT DIVISION PROGRAMSPart B-New Markets Venture Capital Program
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§689h. Bank participation
(a) In general
Except as provided in subsection (b), any national bank, any member bank of the Federal Reserve System, and (to the extent permitted under applicable State law) any insured bank that is not a member of such system, may invest in any New Markets Venture Capital company, or in any entity established to invest solely in New Markets Venture Capital companies.
(b) Limitation
No bank described in subsection (a) may make investments described in such subsection that are greater than 5 percent of the capital and surplus of the bank.
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