[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR107.250]

[Page 42]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
                CHAPTER I--SMALL BUSINESS ADMINISTRATION
 
PART 107_SMALL BUSINESS INVESTMENT COMPANIES--Table of Contents
 
                Subpart C_Qualifying for an SBIC License
 
Sec. 107.250  Exclusion of stock options issued by Licensee from 
Management Expenses.

    Stock options issued by any Licensee, including a 1940 or 1980 Act 
Company, are not considered compensation and therefore do not count as 
part of a Licensee's Management Expenses.

                      Applying for an SBIC License