Securities Lawyer's Deskbook
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Investment Company Act of 1940

Section 58 -- Changes in Investment Policy

No business development company shall, unless authorized by the vote of a majority of its outstanding voting securities or partnership interests, change the nature of its business so as to cease to be, or to withdraw its election as, a business development company.

Legislative History

Aug. 22, 1940, ch 686, Title I, § 58, as added Oct. 21, 1980, P.L. 96-477, Title I, § 105 in part, 94 Stat. 2285.

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