Specialized Small Business Investment Company Law and Legal Definition

According to 15 USCS § 689 (7), [Title 15. Commerce and Trade; Chapter 14B. Small Business Investment Program; Investment Division Programs; New Markets Venture Capital Program] the term specialized small business investment company means “any small business investment company that--

(A) invests solely in small business concerns that contribute to a well-balanced national economy by facilitating ownership in such concerns by persons whose participation in the free enterprise system is hampered because of social or economic disadvantages;

(B) is organized or chartered under State business or nonprofit corporations statutes, or formed as a limited partnership; and

(C) was licensed under section 301(d) [15 USCS § 681(d)], as in effect before September 30, 1996.”