80 FR 36881 - Small Business Investment Company (SBIC) Program: SBA Model Form of Agreement of Limited Partnership for an SBIC Issuing Debentures

SMALL BUSINESS ADMINISTRATION

Federal Register Volume 80, Issue 123 (June 26, 2015)

Page Range		36881-36882
FR Document		2015-15685

The Small Business Administration (SBA) has updated the SBA Model Form of Agreement of Limited Partnership for an SBIC Issuing Debentures Only (the Model). This update reflects comments received from the public in response to SBA's notice published in the Federal Register on April 22, 2014. SBA is preparing to issue the updated Model for use by SBIC applicants, and welcomes final comments from the public on the updated Model.

Federal Register, Volume 80 Issue 123 (Friday, June 26, 2015)

[Federal Register Volume 80, Number 123 (Friday, June 26, 2015)]
[Notices]
[Pages 36881-36882]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-15685]


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SMALL BUSINESS ADMINISTRATION

[Docket ID No: SBA-2015-0010]


Small Business Investment Company (SBIC) Program: SBA Model Form 
of Agreement of Limited Partnership for an SBIC Issuing Debentures

AGENCY: Small Business Administration.

ACTION: Notice; request for comments on Revised SBA Model Form of 
Agreement of Limited Partnership for an SBIC Issuing Debentures Only.

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SUMMARY: The Small Business Administration (SBA) has updated the SBA 
Model Form of Agreement of Limited Partnership for an SBIC Issuing 
Debentures Only (the Model). This update reflects comments received 
from the public in response to SBA's notice published in the Federal 
Register on April 22, 2014. SBA is preparing to issue the updated Model 
for use by SBIC applicants, and welcomes final comments from the public 
on the updated Model.

DATES: Comments on the Model must be received on or before August 10, 
2015.

ADDRESSES: Submit your comments, identified by Docket ID No. SBA-2015-
0010, at www.regulations.gov. Comments may only be submitted at this 
Web address; follow the instructions on the Web site for submitting 
comments. All comments received will be included in the public docket 
without change and will be available online at www.regulations.gov. All 
submissions, including attachments and other supporting materials, will 
become part of the public record and subject to public disclosure. 
Sensitive information and information that you consider to be 
Confidential Business Information or otherwise protected should not be 
included. Submissions will not be edited to remove any identifying or 
contact information.

FOR FURTHER INFORMATION CONTACT: Michael Schrader, Office of General 
Counsel, 409 Third Street SW., Washington, DC 20416; (202) 205-7115.

SUPPLEMENTARY INFORMATION: The SBIC Program was established under the 
Small Business Investment Act of 1958. SBICs are privately owned and 
managed investment funds, licensed and regulated by SBA, that use 
privately-raised capital plus funds borrowed with an SBA guarantee to 
make equity and debt investments in qualifying small businesses. The 
SBIC license application (SBA Form 2183) requires an applicant to 
submit, among other things, its organizational documents. The majority 
of applicants to the SBIC program are formed as limited partnerships, 
and these applicants must submit their limited partnership agreement as 
part of their application. The original version of the Model was 
developed in 2000 to assist applicants in producing a limited 
partnership agreement suitable for an SBIC and to facilitate this 
process by including provisions required by the regulations governing 
the SBIC Program (13 CFR part 107) and other SBA policy requirements 
designed to minimize the risk of loss to SBA in providing financial 
assistance to SBICs. The Model was updated in 2004, with additional 
limited updates since that time. The Model is available at https://www.sba.gov/content/model-partnership-agreement-0.
    Since the last comprehensive update to the Model, changes have 
occurred both in the structure and operation of limited partnerships 
and in the venture capital industry. As part of its process of updating 
the Model, SBA published a notice in the Federal Register soliciting 
comments and recommendations from the public on April 22, 2014, 79 FR 
22568. Those comments were posted and are available at Docket ID No: 
SBA-2014-0004, at www.regulations.gov. SBA carefully considered the 
comments received and incorporated those that the Agency believed were 
appropriate into the Model. The updated form of the Model is available 
at Docket ID No. SBA-2015-

[[Page 36882]]

0010, at www.regulations.gov. SBA is soliciting final comments and 
recommendations from the public on the updated form of the Model. SBA 
will not issue another notice seeking comments to the Model in the 
Federal Register, and will post the final revised version of the Model 
on the SBIC Web site at https://www.sba.gov/inv.

    Authority:  15 U.S.C. 681.

Javier Saade,
Associate Administrator for Investment and Innovation.
[FR Doc. 2015-15685 Filed 6-25-15; 8:45 am]
 BILLING CODE 8025-01-P

Federal Register / Vol. 80, No. 123 / Friday, June 26, 2015 / Notices 36881

The Commission believes that extending Disbursement Center, 14925 Kingsport docket without change and will be
the 2014 Pilot Program will ensure that Road, Fort Worth, TX 76155. available online at www.regulations.gov.
these risks remain subject to more FOR FURTHER INFORMATION CONTACT: A. All submissions, including attachments
stringent controls and that this, in turn, Escobar, Office of Disaster Assistance, and other supporting materials, will
will help promote the prompt and U.S. Small Business Administration, become part of the public record and
accurate clearance and settlement of 409 3rd Street SW., Suite 6050, subject to public disclosure. Sensitive
securities transactions. The Commission Washington, DC 20416. information and information that you
further believes that, by requiring tri- SUPPLEMENTARY INFORMATION: The notice consider to be Confidential Business
party repos to remain collateralized for of the President’s major disaster Information or otherwise protected
a longer period each day, the 2014 Pilot declaration for Private Non-Profit should not be included. Submissions
Program helps to assure the safety of the organizations in the State of will not be edited to remove any
securities and funds within FICC’s OKLAHOMA, dated 06/04/2015, is identifying or contact information.
control, or for which it is responsible.20 hereby amended to include the FOR FURTHER INFORMATION CONTACT:
III. Conclusion following areas as adversely affected by Michael Schrader, Office of General
the disaster. Counsel, 409 Third Street SW.,
On the basis of the foregoing, the Primary Counties: Craig, Custer, Dewey, Washington, DC 20416; (202) 205–7115.
Commission finds that the proposed Grant, Jefferson, Kay, Kingfisher, SUPPLEMENTARY INFORMATION: The SBIC
rule change is consistent with the Kiowa, Major, Noble, Oklahoma, Program was established under the
requirements of the Act, particularly Ottawa, Roger Mills, Wagoner. Small Business Investment Act of 1958.
those set forth in section 17A,21 and the SBICs are privately owned and managed
rules and regulations thereunder. All other information in the original
declaration remains unchanged. investment funds, licensed and
It is therefore ordered, pursuant to regulated by SBA, that use privately-
section 19(b)(2) of the Act,22 that the (Catalog of Federal Domestic Assistance
Numbers 59002 and 59008) raised capital plus funds borrowed with
proposed rule change (SR–FICC–2015– an SBA guarantee to make equity and
002) be, and hereby is, approved.23 James E. Rivera, debt investments in qualifying small
For the Commission, by the Division of Associate Administrator for Disaster businesses. The SBIC license
Trading and Markets, pursuant to delegated Assistance. application (SBA Form 2183) requires
authority.24 [FR Doc. 2015–15684 Filed 6–25–15; 8:45 am] an applicant to submit, among other
Robert W. Errett, BILLING CODE 8025–01–P things, its organizational documents.
Deputy Secretary. The majority of applicants to the SBIC
[FR Doc. 2015–15691 Filed 6–25–15; 8:45 am] program are formed as limited
BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION partnerships, and these applicants must
[Docket ID No: SBA–2015–0010] submit their limited partnership
agreement as part of their application.
SMALL BUSINESS ADMINISTRATION Small Business Investment Company The original version of the Model was
(SBIC) Program: SBA Model Form of developed in 2000 to assist applicants
[Disaster Declaration #14344 and #14345] in producing a limited partnership
Agreement of Limited Partnership for
Oklahoma Disaster Number OK–00081 an SBIC Issuing Debentures agreement suitable for an SBIC and to
facilitate this process by including
AGENCY: U.S. Small Business AGENCY: Small Business Administration. provisions required by the regulations
Administration. ACTION: Notice; request for comments on governing the SBIC Program (13 CFR
ACTION: Amendment 4. Revised SBA Model Form of Agreement part 107) and other SBA policy
of Limited Partnership for an SBIC requirements designed to minimize the
SUMMARY: This is an amendment of the Issuing Debentures Only. risk of loss to SBA in providing
Presidential declaration of a major financial assistance to SBICs. The Model
disaster for Public Assistance Only for SUMMARY: The Small Business was updated in 2004, with additional
the State of Oklahoma (FEMA–4222– Administration (SBA) has updated the limited updates since that time. The
DR), dated 06/04/2015. SBA Model Form of Agreement of Model is available at https://
Incident: Severe Storms, Tornadoes, Limited Partnership for an SBIC Issuing www.sba.gov/content/model-
Straight Line Winds, and Flooding. Debentures Only (the Model). This partnership-agreement-0.
Incident Period: 05/05/2015 through update reflects comments received from Since the last comprehensive update
06/04/2015. the public in response to SBA’s notice to the Model, changes have occurred
Effective Date: 06/17/2015. published in the Federal Register on both in the structure and operation of
Physical Loan Application Deadline April 22, 2014. SBA is preparing to limited partnerships and in the venture
Date: 08/03/2015. issue the updated Model for use by SBIC capital industry. As part of its process
Economic Injury (EIDL) Loan applicants, and welcomes final of updating the Model, SBA published
Application Deadline Date: 03/04/2016. comments from the public on the a notice in the Federal Register
ADDRESSES: Submit completed loan
updated Model. soliciting comments and
applications to: U.S. Small Business DATES: Comments on the Model must be recommendations from the public on
Administration, Processing and received on or before August 10, 2015. April 22, 2014, 79 FR 22568. Those
ADDRESSES: Submit your comments, comments were posted and are available
tkelley on DSK3SPTVN1PROD with NOTICES

20 See 15 U.S.C. 78q–1(b)(3)(F). identified by Docket ID No. SBA–2015– at Docket ID No: SBA–2014–0004, at
21 15 U.S.C. 78q–1. 0010, at www.regulations.gov. www.regulations.gov. SBA carefully
22 15 U.S.C. 78s(b)(2).
Comments may only be submitted at considered the comments received and
23 In approving the proposed rule change, the
this Web address; follow the incorporated those that the Agency
Commission considered the proposal’s impact on
efficiency, competition, and capital formation. See instructions on the Web site for believed were appropriate into the
15 U.S.C. 78c(f). submitting comments. All comments Model. The updated form of the Model
24 17 CFR 200.30–3(a)(12). received will be included in the public is available at Docket ID No. SBA–2015-

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36882 Federal Register / Vol. 80, No. 123 / Friday, June 26, 2015 / Notices

0010, at www.regulations.gov. SBA is (Catalog of Federal Domestic Assistance SMALL BUSINESS ADMINISTRATION
soliciting final comments and Numbers 59002 and 59008)
[Disaster Declaration #14334 and #14335]
recommendations from the public on
James E. Rivera,
the updated form of the Model. SBA Texas Disaster Number TX–00447
will not issue another notice seeking Associate Administrator for Disaster
Assistance. AGENCY: U.S. Small Business
comments to the Model in the Federal
Register, and will post the final revised [FR Doc. 2015–15675 Filed 6–25–15; 8:45 am] Administration.
version of the Model on the SBIC Web BILLING CODE 8025–01–P ACTION: Amendment 2.
site at https://www.sba.gov/inv.
SUMMARY: This is an amendment of the
Authority: 15 U.S.C. 681. Presidential declaration of a major
SMALL BUSINESS ADMINISTRATION
Javier Saade, disaster for the State of Texas (FEMA–
Associate Administrator for Investment and [License No. 05/05–0320] 4223–DR), dated 05/29/2015.
Innovation. Incident: Severe Storms, Tornadoes,
[FR Doc. 2015–15685 Filed 6–25–15; 8:45 am] LFE Growth Fund III, LP; Notice Straight-Line Winds and Flooding.
Seeking Exemption Under Section 312 Incident Period: 05/04/2015 and
BILLING CODE 8025–01–P
of the Small Business Investment Act, continuing.
Effective Date: 06/16/2015.
Conflicts of Interest Physical Loan Application Deadline
SMALL BUSINESS ADMINISTRATION
Date: 07/28/2015.
Notice is hereby given that LFE EIDL Loan Application Deadline Date:
[Disaster Declaration #14330 and #14331] Growth Fund III, LP, 319 Barry Avenue 02/29/2016.
South, Suite 215, Wayzata, MN 55391,
ADDRESSES: Submit completed loan
Oklahoma Disaster Number OK–00092 a Federal Licensee under the Small applications to: U.S. Small Business
AGENCY: U.S. Small Business Business Investment Act of 1958, as Administration, Processing and
Administration. amended (the ‘‘Act’’), in connection Disbursement Center, 14925 Kingsport
with the financing of a small concern, Road, Fort Worth, TX 76155.
ACTION: Amendment 5.
has sought an exemption under section FOR FURTHER INFORMATION CONTACT: A.
SUMMARY: This is an amendment of the 312 of the Act and section 107.730, Escobar, Office of Disaster Assistance,
Presidential declaration of a major Financings which Constitute Conflicts U.S. Small Business Administration,
disaster for the State of Oklahoma of Interest of the Small Business 409 3rd Street SW., Suite 6050,
(FEMA–4222–DR), dated 05/26/2015. Administration (‘‘SBA’’) Rules and Washington, DC 20416.
Incident: Severe Storms, Tornadoes, Regulations (13 CFR 107.730). LFE SUPPLEMENTARY INFORMATION: The notice
Straight Line Winds, and Flooding. Growth Fund III, LP proposes to provide of the Presidential disaster declaration
Incident Period: 05/05/2015 through debt financing to Fitness On Request, for the State of TEXAS, dated 05/29/
06/04/2015. Inc., d/b/a Wellbeats, 11600 96th Ave. 2015 is hereby amended to include the
Effective Date: 06/17/2015. North, Maple Grove, MN 55369. The following areas as adversely affected by
Physical Loan Application Deadline proceeds will be used to fund growth of the disaster:
Date: 07/27/2015. the company. Primary Counties: (Physical Damage
EIDL Loan Application Deadline Date: The financing is brought within the and Economic Injury Loans): Cooke;
02/26/2016. purview of § 107.730(a)(1) of the Dallas; Fannin; Grayson; Liberty;
ADDRESSES: Submit completed loan Regulations because LFE Growth Fund Nueces; Walker.
applications to: U.S. Small Business III, LP and LFE Growth Fund II, LP are Contiguous Counties: (Economic Injury
Administration, Processing and Associates and because LFE Growth Loans Only):
Disbursement Center, 14925 Kingsport Fund II, LP has a greater than ten Texas: Aransas; Delta; Grimes;
Road, Fort Worth, TX 76155. percent interest in Wellbeats. Therefore Hardin; Houston; Jefferson; Jim
Wells; Kleberg; Lamar; Madison;
FOR FURTHER INFORMATION CONTACT: A. this transaction is considered financing
Polk; Rockwall; San Jacinto; San
Escobar, Office of Disaster Assistance, an Associate requiring SBA prior
Patricio; Trinity.
U.S. Small Business Administration, written exemption. Oklahoma: Bryan; Marshall.
409 3rd Street SW., Suite 6050, Notice is hereby given that any
Washington, DC 20416. All other information in the original
interested person may submit written declaration remains unchanged.
SUPPLEMENTARY INFORMATION: The notice comments on the transaction, within
of the Presidential disaster declaration (Catalog of Federal Domestic Assistance
fifteen days of the date of this Numbers 59002 and 59008)
for the State of Oklahoma, dated 05/26/ publication, to the Associate
2015 is hereby amended to include the Administrator for Office of Investment James E. Rivera,
following areas as adversely affected by and Innovation, U.S. Small Business Associate Administrator for Disaster
the disaster: Administration, 409 Third Street SW., Assistance.
Primary Counties: (Physical Damage Washington, DC 20416. [FR Doc. 2015–15678 Filed 6–25–15; 8:45 am]
and Economic Injury Loans): BILLING CODE 8025–01–P
Dated: June 15, 2015.
Choctaw; Cotton; Rogers; Tillman.
Contiguous Counties: (Economic Injury John R. Williams,
tkelley on DSK3SPTVN1PROD with NOTICES

Loans Only): Acting Associate Administrator for Office of SUSQUEHANNA RIVER BASIN
Oklahoma: Craig; Jefferson; Nowata; Investment and Innovation. COMMISSION
Washington. [FR Doc. 2015–15669 Filed 6–25–15; 8:45 am]
Texas: Clay; Wichita; Wilbarger. BILLING CODE 8025–01–P Actions Taken at June 4, 2015, Meeting
All other information in the original AGENCY:Susquehanna River Basin
declaration remains unchanged. Commission.

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Document Created: 2015-12-15 14:14:40
Document Modified: 2015-12-15 14:14:40

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice; request for comments on Revised SBA Model Form of Agreement of Limited Partnership for an SBIC Issuing Debentures Only.
Dates		Comments on the Model must be received on or before August 10, 2015.
Contact		Michael Schrader, Office of General Counsel, 409 Third Street SW., Washington, DC 20416; (202) 205-7115.
FR Citation		80 FR 36881