7 CFR Part 4290
PART 4290—RURAL BUSINESS INVESTMENT COMPANY (“RBIC”) PROGRAM
- PART 4290—RURAL BUSINESS INVESTMENT COMPANY (“RBIC”) PROGRAM
- Subtitle B—Regulations of the Department of Agriculture › Chapter XLII—Rural Business-Cooperative Service, Department of Agriculture
- Subpart A—Introduction to Part 4290
- § 4290.10 Description of the Rural Business Investment Company Program.
- § 4290.15 Leveraged and Non-leveraged Rural Business Investment Companies.
- § 4290.20 Legal basis and applicability of this part 4290.
- § 4290.30 Amendments to Act and regulations.
- § 4290.40 How to read this part 4290.
- § 4290.45 Responsibility for implementing this part 4290.
- Subpart B—Definition of Terms Used in Part 4290
- § 4290.50 Definition of terms.
- Subpart C—Qualifications for the RBIC Program
- Organizing a RBIC
- § 4290.100 Business form.
- § 4290.110 Qualified management.
- § 4290.120 Plan to invest in Rural Areas.
- § 4290.130 Identified Rural Areas.
- § 4290.140 Approval of initial Management Expenses.
- § 4290.150 Management and ownership diversity requirement.
- § 4290.160 Special rules for Partnership RBICs and LLC RBICs.
- § 4290.165 Obligations of Control Persons.
- Capitalizing a RBIC
- § 4290.200 Adequate capital for RBICs.
- § 4290.210 Minimum capital requirements for RBICs.
- § 4290.230 Private Capital for RBICs.
- § 4290.240 Limitations on non-cash capital contributions in Private Capital.
- Subpart D—Application and Approval Process for RBIC Licensing
- § 4290.300 When and how to apply for a RBIC License.
- § 4290.310 Contents of application.
- § 4290.320 Contents of comprehensive business plan.
- § 4290.330 Guarantee fee.
- Subpart E—Evaluation and Selection of RBICs
- § 4290.340 Evaluation and selection—general.
- § 4290.350 Eligibility and completeness.
- § 4290.360 Initial review of Applicant's management team's qualifications.
- § 4290.370 Evaluation criteria.
- § 4290.380 Selection.
- § 4290.390 Licensing as a RBIC.
- Subpart F—Changes in Ownership, Structure, or Control
- Changes in Control or Ownership of RBIC
- § 4290.400 Changes in ownership of 10 percent or more of RBIC but no change of Control.
- § 4290.410 Changes in Control of RBIC (through change in ownership or otherwise).
- § 4290.420 Prohibition on exercise of ownership or Control rights in RBIC before approval.
- § 4290.430 Notification of transactions that may change ownership or Control.
- § 4290.440 Standards governing prior approval for a proposed transfer of Control.
- § 4290.450 Notification of pledge of RBIC's shares.
- Restrictions on Common Control or Ownership of Two or More RBICs
- § 4290.460 Restrictions on Common Control or ownership of two (or more) RBICs.
- Change in Structure of RBIC
- § 4290.470 Prior approval of merger, consolidation, or reorganization of RBIC.
- § 4290.480 Prior approval of changes to RBIC's business plan.
- Subpart G—Managing the Operations of a RBIC
- General Requirements
- § 4290.500 Lawful operations under the Act.
- § 4290.502 Representations to the public.
- § 4290.503 RBIC's adoption of an approved valuation policy.
- § 4290.504 Equipment of USDA or SBA officials.
- § 4290.506 Safeguarding the RBIC's assets/Internal controls.
- § 4290.507 Violations based on false filings and nonperformance of agreements with the Agency or SBA.
- § 4290.508 Compliance with non-discrimination laws and regulations applicable to federally-assisted programs.
- § 4290.509 Employment of USDA or SBA officials.
- Management and Compensation
- § 4290.510 Approval of RBIC's Investment Adviser/Manager.
- § 4290.520 Management Expenses of a RBIC.
- Cash Management by a RBIC
- § 4290.530 Restrictions on investments of idle funds by RBICs.
- Secured Borrowing by RBICs
- § 4290.550 Prior approval of secured third-party debt of RBICs.
- Voluntary Decrease in Regulatory Capital
- § 4290.585 Voluntary decrease in RBIC's Regulatory Capital.
- Subpart H—Recordkeeping, Reporting, and Examination Requirements for RBICs
- Recordkeeping Requirements for RBICs
- § 4290.600 General requirement for RBIC to maintain and preserve records.
- § 4290.610 Required certifications for Loans and Investments.
- § 4290.620 Requirements to obtain information from Portfolio Concerns.
- Reporting Requirements for RBICs
- § 4290.630 Requirement for RBICs to file financial statements and supplementary information with the Agency.
- § 4290.640 Requirement to file portfolio financing reports with the Agency.
- § 4290.650 Requirement to report portfolio valuations to the Agency
- § 4290.660 Other items required to be filed by RBIC with the Agency.
- § 4290.680 Reporting changes in RBIC not subject to prior approval.
- Examinations of RBICs by the Agency for Regulatory Compliance
- § 4290.690 Examinations.
- § 4290.691 Responsibilities of RBIC during examination.
- § 4290.692 Examination fees.
- Subpart I—Financing of Enterprises by RBICs
- Determining Eligibility of an Enterprise for RBIC Financing
- § 4290.700 Requirements concerning types of enterprises to receive financing.
- § 4290.720 Enterprises that may be ineligible for Financing.
- § 4290.730 Financings which constitute conflicts of interest.
- § 4290.740 Portfolio diversification (“overline” limitation).
- § 4290.760 How a change in size or activity of a Portfolio Concern affects the RBIC and the Portfolio Concern.
- Structuring RBIC Financing of Eligible Enterprises—Types of Financings
- § 4290.800 Financings in the form of Equity Securities.
- § 4290.810 Financings in the form of Loans.
- § 4290.815 Financings in the form of Debt Securities.
- § 4290.820 Financings in the form of guarantees.
- § 4290.825 Purchasing securities from an underwriter or other third party.
- § 4290.830 Minimum term of Financing.
- § 4290.835 Exceptions to minimum term of Financing.
- § 4290.840 Maximum term of Financing.
- § 4290.845 Maximum rate of amortization on Loans and Debt Securities.
- § 4290.850 Restrictions on redemption of Equity Securities.
- § 4290.860 Financing fees and expense reimbursements a RBIC may receive from an Enterprise.
- § 4290.880 Assets acquired in liquidation of Portfolio securities.
- Limitations on Disposition of Assets
- § 4290.885 Disposition of assets to RBIC's Associates or to competitors of Portfolio Concerns.
- § 4290.900 Management fees for services provided to an Enterprise by RBIC or its Associate.
- Subpart J—Financial Assistance for RBICs (Leverage)
- General Information About Obtaining Leverage
- § 4290.1100 Type of Leverage and application procedures.
- § 4290.1120 General eligibility requirements for Leverage.
- § 4290.1130 Leverage fees payable by RBIC.
- § 4290.1140 RBIC's acceptance of remedies under § 4290.1810.
- Maximum Amount of Leverage for Which a RBIC Is Eligible
- § 4290.1150 Maximum amount of Leverage for a RBIC.
- Conditional Commitments To Reserve Leverage for a RBIC
- § 4290.1200 Leverage commitment to a RBIC—application procedure, amount, and term.
- § 4290.1220 Requirement for RBIC to file financial statements at the time of request for a draw.
- § 4290.1230 Draw-downs by RBIC under Leverage commitment.
- § 4290.1240 Funding of RBIC's draw request through sale to third-party.
- Distributions by RBICs With Outstanding Leverage
- § 4290.1500 Restrictions on distributions to RBIC investors while RBIC has outstanding Leverage.
- Funding Leverage by Use of Guaranteed Trust Certificates (“TCs”)
- § 4290.1600 Agency's authority to issue and guarantee Trust Certificates.
- § 4290.1610 Effect of prepayment or early redemption of Leverage on a Trust Certificate.
- § 4290.1620 Functions of agents, including Central Registration Agent, Selling Agent and Fiscal Agent.
- § 4290.1630 Regulation of Brokers and Dealers and disclosure to purchasers of Leverage or Trust Certificates.
- § 4290.1640 Agency's access to records of the CRA, Brokers, Dealers and Pool or Trust assemblers.
- Miscellaneous
- § 4290.1700 Agency's transfer of interest in a RBIC's Leverage security.
- § 4290.1710 Agency's authority to collect or compromise claims.
- § 4290.1720 Characteristics of Agency's guarantee.
- Subpart K—RBIC's Noncompliance With Terms of Leverage
- § 4290.1810 Events of default and the Agency's remedies for RBIC's noncompliance with terms of Debentures.
- Computation of RBIC'S Capital Impairment
- § 4290.1830 RBIC's Capital Impairment definition and general requirements.
- § 4290.1840 Computation of RBIC's Capital Impairment Percentage.
- Subpart L—Ending Operations as a RBIC
- § 4290.1900 Termination of participation as a RBIC.
- Subpart M—Miscellaneous
- § 4290.1910 Non-waiver of rights or terms of Leverage security.
- § 4290.1920 RBIC's application for exemption from a regulation in this part 4290.
- § 4290.1930 Effect of changes in this part 4290 on transactions previously consummated.
- § 4290.1940 Integration of this part with other regulations applicable to USDA's programs.
- Subpart N—Requirements for Operational Assistance Grants to RBICs
- § 4290.2000 Operational Assistance Grants to RBICs.
- Subpart O—Additional Requirements for Non-Leveraged Licensees and Exceptions to Regulations
- § 4290.3000 Non-leveraged RBICs—General.
- §§ 4290.3001-4290.3002 [Reserved]
- § 4290.3003 Responsibilities for implementing Non-leveraged RBICs.
- § 4290.3004 [Reserved]
- § 4290.3005 Qualifications for the Non-leveraged RBIC Program.
- §§ 4290.3006-4290.3009 [Reserved]
- § 4290.3010 Application and Approval Process for RBIC licensing without Leverage.
- §§ 4290.3011-4290.3014 [Reserved]
- § 4290.3015 Evaluation and selection of Non-leveraged RBICs.
- §§ 4290.3016-4290.3019 [Reserved]
- § 4290.3020 Changes in Ownership, Structure, or Control.
- §§ 4290.3021-4290.3024 [Reserved]
- § 4290.3025 Managing the Operations of a RBIC.
- §§ 4290.3026-4290.3029 [Reserved]
- § 4290.3030 Financing of Enterprises by RBICs.
- §§ 4290.3031-4290.3034 [Reserved]
- § 4290.3035 Recordkeeping, Reporting, and Examination Requirements for RBICs.
- §§ 4290.3036-4290.3039 [Reserved]
- § 4290.3040 Financial Assistance for RBICs.
- § 4290.3041 Events of default and the Agency's remedies for RBIC's noncompliance with terms of licensure.
- §§ 4290.3042-4290.3044 [Reserved]
- § 4290.3045 Computation of RBIC's Capital Impairment.
- §§ 4290.3046-4290.3049 [Reserved]
- § 4290.3050 Operational Assistance Grants for RBICs.
- §§ 4290.3051-4290.3099 [Reserved]
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