Regulatory Alerts2007-11-13 | ISGC-2007-010-DOBLimitations on Qualified Investment or Qualified Lending Under the Business Development Company Act
The Washington State Department of Financial Institutions determined that Business Development Corporations are prohibited from making qualified investments or loans to projects located in Idaho or Oregon. This restriction applies to both direct investments in cross-border projects and indirect investments through independent pooled funds that lend to such jurisdictions. The Division noted that permitting these activities would require legislative amendments to the Business Development Company Act.
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