A bill to amend the Small Business Act to authorize the Small Business Administration to purchase equity securities of qualified small business concerns.

Summary

Amends the Small Business Act to authorize the Small Business Administration (SBA), to the extent that equity capital is not available from private sources on reasonable terms, to purchase stock from small business corporations. Authorizes the SBA to regulate: (1) such stock purchases and payment of dividends; and (2) the protection of the SBA's shareholder rights in any subsequent stock sale or redemption, liquidation, or distribution of corporate assets. Prohibits the purchase of securities from a small business corporation if the total amount outstanding and committed to the corporation from the business loan and investment fund (established under such Act) would exceed $750,000. Authorizes appropriations.

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1 official file

• Introduced in House

  summary · EN · 3 January 1983

  Open at official source

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