required majority

The term “required majority”, when used with respect to the approval of a proposed transaction, plan, or arrangement, means both a majority of a business development company’s directors or general partners who have no financial interest in such transaction, plan, or arrangement and a majority of such directors or general partners who are not interested persons of such company.

Source

15 USC § 80a-56(o)

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Scoping language

None identified, default scope is assumed to be the parent (subchapter I) of this section.

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