{"data":{"id":"us/31-cfr-801.209","jurisdiction":"us","citation":"31 CFR 801.209","heading":"Pilot program covered investment.","body":"The term pilot program covered investment means an investment, direct or indirect, by a foreign person in an unaffiliated pilot program U.S. business that could not result in control by a foreign person of a pilot program U.S. business and that affords the foreign person:\n(a) Access to any material nonpublic technical information in the possession of the pilot program U.S. business;\n(b) Membership or observer rights on the board of directors or equivalent governing body of the pilot program U.S. business or the right to nominate an individual to a position on the board of directors or equivalent governing body of the pilot program U.S. business; or\n(c) Any involvement, other than through voting of shares, in substantive decisionmaking of the pilot program U.S. business regarding the use, development, acquisition, or release of critical technology.","path":["Title 31—Money and Finance: Treasury","Subtitle B—Regulations Relating to Money and Finance","CHAPTER VIII—OFFICE OF INVESTMENT SECURITY, DEPARTMENT OF THE TREASURY","PART 801—PILOT PROGRAM TO REVIEW CERTAIN TRANSACTIONS INVOLVING FOREIGN PERSONS AND CRITICAL TECHNOLOGIES","Subpart B—Definitions"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-31.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:25Z","sha256":"3ca1a43c8a5627ac1f5559ced5f9889bad3c89233547df0af60631a664017a3e","source_id":"us-cfr","stale":true,"prev":"us/31-cfr-801.208","next":"us/31-cfr-801.210"},"notice":"GroundRules: Original legal text. Not legal advice."}