United States Code
USC most recently checked for updates: Feb 29, 2024
The term “articles” means articles of incorporation for an incorporated body or the functional equivalent or other similar documents specified by the Secretary for other business entities.
The term “developmental capital” means capital in the form of equity capital investments in rural business investment companies with an objective of fostering economic development in rural areas.
The terms “employee welfare benefit plan” and “pension plan” have the meanings given the terms in section 1002 of title 29.
The term “license” means a license issued by the Secretary as provided in section 2009cc–3(e) of this title.
The term “limited liability company” means a business entity that is organized and operating in accordance with a State limited liability company law approved by the Secretary.
The term “member” means, with respect to a rural business investment company that is a limited liability company, a holder of an ownership interest or a person otherwise admitted to membership in the limited liability company.
The term “operational assistance” means management, marketing, and other technical assistance that assists a rural business concern with business development.
The term “participation agreement” means an agreement, between the Secretary and a rural business investment company granted final approval under section 2009cc–3(e) of this title, that requires the rural business investment company to make investments in smaller enterprises in rural areas.