{"identifier":"/us/usc/t15/s80a\u201353","title":15,"num":"\u00a7\u202f80a\u201353.","heading":"Election to be regulated as business development company","text":"\u00a7\u202f80a\u201353.\nElection to be regulated as business development company\n(a)\nEligibility\nAny company defined in section 80a\u20132(a)(48)(A) and (B) of this title may elect to be subject to the provisions of sections 80a\u201354 through 80a\u201364 of this title by filing with the Commission a notification of election, if such company\u2014\n(1) has a class of its equity securities registered under section 78\nl\n(2) has filed a registration statement pursuant to section 78\nl\n(b)\nForm and manner of notification; effect\nThe Commission may, by rule, prescribe the form and manner in which notification of election under this section shall be given. A business development company shall be deemed to be subject to sections 80a\u201354 through 80a\u201364 of this title upon receipt by the Commission of such notification of election.\n(c)\nRevocation or withdrawal of election\nWhenever the Commission finds, on its own motion or upon application, that a business development company which has filed a notification of election pursuant to subsection (a) of this section has ceased to engage in business, the Commission shall so declare by order revoking such company\u2019s election. Any business development company may voluntarily withdraw its election under subsection (a) by filing a notice of withdrawal of election with the Commission, in a form and manner which the Commission may, by rule, prescribe. Such withdrawal shall be effective immediately upon receipt by the Commission.","url":"https://projectusc.org/usc/t15/s80a\u201353.html","content":[{"t":"sec","id":"/us/usc/t15/s80a\u201353","children":[{"t":"num","text":"\u00a7\u202f80a\u201353."},{"t":"heading","text":"Election to be regulated as business development company"},{"t":"subsec","id":"/us/usc/t15/s80a\u201353/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Eligibility"},{"t":"chapeau","text":"Any company defined in section 80a\u20132(a)(48)(A) and (B) of this title may elect to be subject to the provisions of sections 80a\u201354 through 80a\u201364 of this title by filing with the Commission a notification of election, if such company\u2014"},{"t":"para","id":"/us/usc/t15/s80a\u201353/a/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" has a class of its equity securities registered under section 78","children":[{"t":"text","text":"l","tail":" of this title; or"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s80a\u201353/a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" has filed a registration statement pursuant to section 78","children":[{"t":"text","text":"l","tail":" of this title for a class of its equity securities."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s80a\u201353/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Form and manner of notification; effect"},{"t":"content","children":[{"t":"p","text":"The Commission may, by rule, prescribe the form and manner in which notification of election under this section shall be given. A business development company shall be deemed to be subject to sections 80a\u201354 through 80a\u201364 of this title upon receipt by the Commission of such notification of election.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s80a\u201353/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Revocation or withdrawal of election"},{"t":"content","children":[{"t":"p","text":"Whenever the Commission finds, on its own motion or upon application, that a business development company which has filed a notification of election pursuant to subsection (a) of this section has ceased to engage in business, the Commission shall so declare by order revoking such company\u2019s election. Any business development company may voluntarily withdraw its election under subsection (a) by filing a notice of withdrawal of election with the Commission, in a form and manner which the Commission may, by rule, prescribe. Such withdrawal shall be effective immediately upon receipt by the Commission.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}