About GPO   |   Newsroom/Media   |   Congressional Relations   |   Inspector General   |   Careers   |   Contact   |   askGPO   |   Help  
 
Home   |   Customers   |   Vendors   |   Libraries  

The Electronic Code of Federal Regulations (e-CFR) is a regularly updated, unofficial editorial compilation of CFR material and Federal Register amendments produced by the National Archives and Records Administration's Office of the Federal Register (OFR) and the Government Printing Office.

Parallel Table of Authorities and Rules for the Code of Federal Regulations and the United States Code
Text | PDF

Find, review, and submit comments on Federal rules that are open for comment and published in the Federal Register using Regulations.gov.

Purchase individual CFR titles from the U.S. Government Online Bookstore.

Find issues of the CFR (including issues prior to 1996) at a local Federal depository library.

[1]
 
 

Electronic Code of Federal Regulations

blue pill

e-CFR Data is current as of October 23, 2014

Title 7Subtitle BChapter XLIIPart 4290


TITLE 7—Agriculture

Subtitle B—REGULATIONS OF THE DEPARTMENT OF AGRICULTURE (CONTINUED)

CHAPTER XLII—RURAL BUSINESS-COOPERATIVE SERVICE AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE

PART 4290—RURAL BUSINESS INVESTMENT COMPANY (“RBIC”) PROGRAM

rule

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.
rule

Subpart B—DEFINITION OF TERMS USED IN PART 4290

§4290.50
Definition of terms.
rule

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.
rule

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
Grant and guarantee issuance fee.
rule

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.
rule

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.
rule

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 Secretary 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.
rule

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 Secretary.
§4290.640
Requirement to file portfolio financing reports with the Secretary.
§4290.650
Requirement to report portfolio valuations to the Secretary
§4290.660
Other items required to be filed by RBIC with the Secretary.
§4290.680
Reporting changes in RBIC not subject to prior approval.

Examinations of RBICs by the Secretary for Regulatory Compliance

§4290.690
Examinations.
§4290.691
Responsibilities of RBIC during examination.
§4290.692
Examination fees.
rule

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.
rule

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
Secretary'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
Secretary's access to records of the CRA, Brokers, Dealers and Pool or Trust assemblers.

Miscellaneous

§4290.1700
Secretary's transfer of interest in a RBIC's Leverage security.
§4290.1710
Secretary's authority to collect or compromise claims.
§4290.1720
Characteristics of Secretary's guarantee.
rule

Subpart K—RBIC'S NONCOMPLIANCE WITH TERMS OF LEVERAGE

§4290.1810
Events of default and the Secretary'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.
rule

Subpart L—ENDING OPERATIONS AS A RBIC

§4290.1900
Termination of participation as a RBIC.
rule

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.
rule

Subpart N—REQUIREMENTS FOR OPERATIONAL ASSISTANCE GRANTS TO RBICS

§4290.2000
Operational Assistance Grants to RBICs.
rule

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 Secretary'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]


For questions or comments regarding e-CFR editorial content, features, or design, email ecfr@nara.gov.
For questions concerning e-CFR programming and delivery issues, email webteam@gpo.gov.