Regulatory Alerts2002-02-25
Small Business Investment Companies as Limited Partner
The Pennsylvania Department of Banking issued a non-objection letter to a state-chartered bank regarding its proposal to invest in a Small Business Investment Company as a limited partner. This approval relies on the authority granted by Section 201(c) of the Banking Code of 1965, which applies federal National Bank Act regulations to state-chartered banks. The bank must adhere to all applicable federal terms and conditions while remaining subject to ongoing regulatory oversight and examination by the Department.
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