{"data":{"id":"us/17-cfr-270.6a-5","jurisdiction":"us","citation":"17 CFR 270.6a-5","heading":"a-5 Purchase of certain debt securities by companies relying on section 6(a)(5) of the Act.","body":"For purposes of reliance on the exemption for certain companies under section 6(a)(5)(A) of the Act (15 U.S.C. 80a-6(a)(5)(A)), a company shall be deemed to have met the requirement for credit-worthiness of certain debt securities under section 6(a)(5)(A)(iv)(I) of the Investment Company Act (15 U.S.C. 80a-6(a)(5)(A)(iv)(I)) if, at the time of purchase, the board of directors (or its delegate) determines or members of the company (or their delegate) determine that the debt security is:\n(a) Subject to no greater than moderate credit risk; and\n(b) Sufficiently liquid that it can be sold at or near its carrying value within a reasonably short period of time.","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 270—RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"aea6f6a681611a012689e0a625db58829122ab538a52ccb992d144f6afe0986b","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-270.5b-3","next":"us/17-cfr-270.6b-1"},"notice":"GroundRules: Original legal text. Not legal advice."}