---

13 C.F.R. § 107.460   Restrictions on Common Control or ownership of two (or more) Licensees.

Title 13 - Business Credit and Assistance

Title 13: Business Credit and Assistance
PART 107—SMALL BUSINESS INVESTMENT COMPANIES
Subpart D—Changes in Ownership, Control, or Structure of Licensee; Transfer of License
Restrictions on Common Control or Ownership of Two or More Licensees

§ 107.460   Restrictions on Common Control or ownership of two (or more) Licensees.

(a) General rule. Without SBA's prior written approval, you must not have an officer, director, manager, Control Person, or owner (with a direct or indirect ownership interest of at least 10 percent) who is also:

(1) An officer, director, manager, Control Person, or owner (with a direct or indirect ownership interest of at least 10 percent) of another Licensee; or

(2) An officer or director of any Person that directly or indirectly controls, or is controlled by, or is under Common Control with, another Licensee.

(b) Exceptions to general rule. This §107.460 does not apply to:

(1) Common officers, directors, managers, or owners of a Section 301(c) Licensee and its Section 301(d) subsidiary; or

(2) Common officers, directors, managers, Control Persons, or owners of two (or more) Licensees which have no Leverage.