General rule. Without SBA's prior written approval, you must not have an officer, director, manager, Control Person, or owner (with a direct or indirect ownership interest of at least 10 percent) who is also:
An officer, director, manager, Control Person, or owner (with a direct or indirect ownership interest of at least 10 percent) of another Licensee; or
An officer or director of any Person that directly or indirectly controls, or is controlled by, or is under Common Control with, another Licensee.
Exceptions to general rule. This § 107.460 does not apply to:
Common officers, directors, managers, or owners of a Section 301(c) Licensee and its Section 301(d) subsidiary; or
Common officers, directors, managers, Control Persons, or owners of two (or more) Licensees which have no Leverage.
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