
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC689d]

 
                      TITLE 15--COMMERCE AND TRADE
 
             CHAPTER 14B--SMALL BUSINESS INVESTMENT PROGRAM
 
              SUBCHAPTER III--INVESTMENT DIVISION PROGRAMS
 
               Part B--New Markets Venture Capital Program
 
Sec. 689d. Debentures


(a) In general

    The Administrator may guarantee the timely payment of principal and 
interest, as scheduled, on debentures issued by any New Markets Venture 
Capital company.

(b) Terms and conditions

    The Administrator may make guarantees under this section on such 
terms and conditions as it deems appropriate, except that the term of 
any debenture guaranteed under this section shall not exceed 15 years.

(c) Full faith and credit of the United States

    The full faith and credit of the United States is pledged to pay all 
amounts that may be required to be paid under any guarantee under this 
part.

(d) Maximum guarantee

                           (1) In general

        Under this section, the Administrator may guarantee the 
    debentures issued by a New Markets Venture Capital company only to 
    be \1\ extent that the total face amount of outstanding guaranteed 
    debentures of such company does not exceed 150 percent of the 
    private capital of the company, as determined by the Administrator.
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    \1\ So in original. Probably should be ``the''.
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               (2) Treatment of certain Federal funds

        For the purposes of paragraph (1), private capital shall include 
    capital that is considered to be Federal funds, if such capital is 
    contributed by an investor other than an agency or department of the 
    Federal Government.

(Pub. L. 85-699, title III, Sec. 355, as added Pub. L. 106-554, 
Sec. 1(a)(8) [Sec. 1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A-658.)

                  Section Referred to in Other Sections

    This section is referred to in section 689b of this title.
