DEFINITION of 'SEC Form N-54A'
A filing with the Securities and Exchange Commission (SEC) that must be used by business development companies (BDCs) who want to be subject to the provisions of sections 55 through 65 of the Investment Company Act of 1940. These sections deal with the acquisition of assets by BDCs, qualifications of directors, transactions with certain affiliates, changes in investment policy, incorporation of title provisions, functions and activities of BDCs, capital structure, loans, distribution and repurchase of securities, accounts and records, preventing compliance with title and liability of controlling persons.
BREAKING DOWN 'SEC Form N-54A'
SEC Form N-54A is also known as "Notice of Intent to Elect to be Subject to Sections 55 through 65 of the Investment Company Act of 1940 Filed Pusuant to Section 54(a) of the Act."