Investment Company Act Opinion

Definition:

A legal opinion from lawyers stating that the issuer is not, and after the completion of the transaction and application of the proceeds will not be, required to register as an Investment Company under the Investment Company Act. This factually-based opinion is delivered by lawyers and is generally based on counsel’s review of the issuer’s Financial Statement(s), business plans, Offering Memorandum, SEC or other regulatory filings and, in some cases, officers’ certificates.

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