Page:United States Statutes at Large Volume 114 Part 5.djvu/697

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PUBLIC LAW 106-554—APPENDIX H 114 STAT. 2763A-657 by persons on the company's staff or by persons outside of the company. "(H) Any other factors deemed appropriate by the Administrator. "(3) NATIONWIDE DISTRIBUTION.—The Administrator shall select companies under paragraph (1) in such a way that promotes investment nationwide. "(d) REQUIREMENTS TO BE MET FOR FINAL APPROVAL.—The Administrator shall grant each conditionally approved company a period of time, not to exceed 2 years, to satisfy the following requirements: "(1) CAPITAL REQUIREMENT.— Each conditionally approved company shall raise not less than $5,000,000 of private capital or binding capital commitments from one or more investors (other than agencies or departments of the Federal Government) who met criteria established by the Administrator. "(2) NONADMINISTRATION RESOURCES FOR OPERATIONAL ASSISTANCE. — "(A) IN GENERAL. —In order to provide operational assistance to smaller enterprises expected to be financed by the company, each conditionally approved company— "(i) shall have binding commitments (for contribution in cash or in kind)— "(I) from any sources other than the Small Business Administration that meet criteria established by the Administrator; "(II) payable or available over a multiyear period acceptable to the Administrator (not to exceed 10 years); and "(III) in an amount not less than 30 percent of the total amount of capital and commitments raised under paragraph (1); "(ii) shall have purchased an annuity— - "(I) from an insurance company acceptable to the Administrator; "(II) using funds (other thgin the funds raised under paragraph (1)), from any source other than the Administrator; and "(III) that yields cash payments over a multiyear period acceptable to the Administrator (not to exceed 10 years) in an amount not less than 30 percent of the total amount of capital and commitments raised under paragraph (1); or "(iii) shall have binding commitments (for contributions in cash or in kind) of the type described in clause (i) and shall have purchased an annuity of the type described in clause (ii), which in the aggregate make available, over a multiyear period acceptable to the Administrator (not to exceed 10 years), an amount not less than 30 percent of the total amount of capital and commitments raised under paragraph (1). "(B) EXCEPTION. —The Administrator may, in the discretion of the Administrator and based upon a showing of special circumstances and good cause, consider an applicant to have satisfied the requirements of subparagraph (A) if the applicant has—