84-7

July 5, 1984

Dear Mr. ____________:
Responsive to your letter of June 28, 1984, and in confirmation of previous phone conversations, it is the position of the State Banking Department that the ________ can legally become involved in a limited partnership which will operate as a small business investment company as permitted by Section 769 of the California Financial Code. It is understood that the bank’s investment in the limited partnership will not exceed the maximum permitted under Section 769. The proposed 52 million investment would appear to be well within this limitation.
Very truly yours,
LOUIS CARTER
Superintendent of Banks
by
GENE C. KIRKISH
Deputy Superintendent
GCK:mjj
cc: Federal Deposit Insurance Corporation

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