[Federal Register Volume 61, Number 240 (Thursday, December 12, 1996)]
[Notices]
[Page 65422]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-31496]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 22375; 811-8566]


Bando McGlocklin Small Business Lending Corporation; Notice of 
Application

December 6, 1996.
AGENCY: Securities and Exchange Commission (``SEC'').

ACTION: Notice of application for an order under the Investment Company 
Act of 1940 (the ``Act'').

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APPLICANT: Bando McGlocklin Small Business Lending Corporation.

RELEVANT ACT SECTIONS: Section 8(f).

SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has 
ceased to be an investment company.

FILING DATES: The application was filed on December 3, 1996.

HEARING OR NOTIFICATION OF HEARING: An order granting the application 
will be issued unless the SEC orders a hearing. Interested persons may 
request a hearing by writing to the SEC's Secretary and serving 
applicant with a copy of the request, personally or by mail. Hearing 
requests should be received by the SEC by 5:30 p.m. on December 31, 
1996, and should be accompanied by proof of service on applicant, in 
the form of an affidavit, or, for lawyers, a certificate of service. 
Hearing requests should state the nature of the writer's interest, the 
reason for the request, and the issues contested. Persons may request 
notification of a hearing by writing to the SEC's Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth Street, N.W., Washington, D.C. 
20549. Applicant, P.O. Box 190, Pewaukee, Wisconsin 53072.

FOR FURTHER INFORMATION CONTACT:
Elaine M. Boggs, Staff Attorney, at (202) 942-0572, or Alison E. Baur, 
Branch Chief, at (202) 942-0564 (Division of Investment Management, 
Office of Investment Company Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the 
application. The complete application may be obtained for a fee from 
the SEC's Public Reference Branch.

Applicant's Representations

    1. Applicant is a closed-end management investment company that is 
organized as a corporation under the laws of Wisconsin. On June 13, 
1994, applicant registered under the Act and filed a registration 
statement on Form N-2. Applicant did not file a registration statement 
under the Securities Act of 1933 and has never made a public offering 
of its securities. Applicant is a wholly-owned subsidiary of Bando 
McGlocklin Capital Corporation (``BMCC''). BMCC is a registered 
investment company and has requested an order to deregister.\1\
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    \1\ Investment Company Act Release No. 22326 (Nov. 12, 1996) 
(notice). After it has deregistered, BMCC intends to rely on the 
exemption provided by section 3(c)(6) of the Act. Section 3(c)(6) in 
relevant part excludes from the definition of investment company any 
company primarily engaged, directly or through majority-owned 
subsidiaries, in the business or purchasing or otherwise acquiring 
mortgages or other liens on and interests in real estate.
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    2. On November 20, 1996, applicant's board of directors and BMCC as 
applicant's sole shareholder approved applicant's dissolution pursuant 
to a plan of liquidation. On November 30, 1996, applicant distributed 
all of its assets, in the amount of $1,244,197. All of applicant's 
unknown or contingent obligations will be assumed by BMCC, including 
expenses related to the liquidation. Such expenses are estimated to be 
$4,000.
    3. Applicant has retained no assets. Applicant has no debts or 
other liabilities that remain outstanding. Applicant is not a party to 
any litigation or administrative proceeding. Applicant is not now 
engaged, nor does it propose to engage, in any business activities 
other than those necessary for the winding up of its affairs.
    4. Applicant has filed articles of dissolution with the State of 
Wisconsin.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-31496 Filed 12-11-96; 8:45 am]
BILLING CODE 8010-01-M