First Louisiana Investment Corporation v. United States

JONES, Circuit Judge:

The appellant, First Louisiana Investment Corporation, is a Louisiana corporation. Its president and principal stockholder is Louis M. Ray. He established its policies and controlled its activities. It was organized for and was licensed by the Small Business Administration (herein called SBA) as a small business investment company under the Small Business Investment Act, 15 U.S.C.A. § 661 et seq. (herein referred to as the Act). Before it was licensed its articles of incorporation were approved by SBA as required by the Act. 15 U.S.C.A. § 681(b). The Act provides- that a…