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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XLII - Rural Business-Cooperative Service and Rural Utilities Service, Department of Agriculture |
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Part 4290 - Rural Business Investment Company (“RBIC”) Program |
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Subpart O - Additional Requirements for Non-Leveraged Licensees and Exceptions to Regulations |
§ 4290.3030 - Financing of Enterprises by RBICs.
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§ 4290.3030 Financing of Enterprises by RBICs.
(a) Non-compliance with this section. The last sentence of § 4290.700(e) does not apply to Non-leveraged RBICs.
(b) Enterprises that may be ineligible for Financing. The provisions associated with real estate enterprises found in § 4290.720(c) apply to Non-leveraged RBICs unless the Non-leveraged RBIC requests, and has received, an irrevocable exemption from the Secretary Agency in accordance with § 4290.1920.
(c) Farmland purchases. The provisions associated with farmland purchases found in § 4290.720(e) apply to Non-leveraged RBICs unless the Non-leveraged RBIC requests, and has received, an irrevocable exemption from the Secretary Agency in accordance with § 4290.1920.
(d) Purchasing securities from an underwriter or other third party. Non-leveraged RBICs are exempt from the recordkeeping requirements and fee limitations in § 4290.825(b) and (c), respectively, for securities purchased through or from an underwriter.
(e) Assets acquired in liquidation of Portfolio securities. The provisions of § 4290.880 do not apply to Non-leveraged RBICs.