Federal Register / Vol. 61, No. 120 / Thursday, June 20, 1996 / Notices 31605

5 15 U.S.C. § 78o–3(b)(5).

6 15 U.S.C. § 78s(b)(2) (1988).

will raise the requisite funds to finance

its operating costs.

III. Discussion

The Commission finds that the

proposed rule change is consistent with

the requirements of the Act and the

rules and regulations thereunder

applicable to the Association, and, in

particular, with the requirements of

Section 15A(b)(5).5 Section 15A(b)(5)

requires that the rules of the Association

provide for the equitable allocation of

reasonable dues, fees, and other charges

among members.

The Commission believes that using a

member’s gross revenue for assessment

purposes provides for the equitable

allocation of reasonable assessments

among members. The Commission notes

that the rule proposal recognizes

interest and dividend revenue as part of

a member’s gross revenue for

assessment purposes, while recognizing

that expenses incurred in connection

with such interest and dividend revenue

should be allowed to be deducted from

such revenue. Moreover, the rule

proposal allows, alternatively, members

whose business incurs less direct

expense in connection with interest and

dividend revenue to deduct 40% of

interest earned by the member on

customer securities accounts. This

alternative deduction is intended to

eliminate the potential for inequitable

allocation of assessments on those

members whose interest and dividend

revenue is obtained without significant

expenses related to trading strategies,

such as a member that derives interest

revenue primarily from margin accounts

financed by its own capital. The

purposed rule also allows a member to

deduct from its gross revenue an

additional $50,000 of net interest and

dividend revenue to encourage the

accumulation of net capital.

IV. Conclusion

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,6 that the

proposed rule change (SR–NASD–96–

15) is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority, 17 CFR 200.30–3(a)(12).

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 96–15660 Filed 6–19–96; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster Loan Area #2865]

Texas; Declaration of Disaster Loan

Area

Irion County and the contiguous

counties of Crockett, Reagan,

Schleicher, and Tom Green constitute a

disaster area as a result of damages

caused by severe thunderstorms and

hail that occurred on May 29, 1996.

Applications for loans for physical

damage as a result of this disaster may

be filed until the close of business on

August 9, 1996 and for economic injury

until the close of business on March 10,

1997 at the address listed below:

U.S. Small Business Administration,

Disaster Area 3 Office, 4400 Amon

Carter Blvd., Suite 102, Fort Worth,

Texas 76155

or other locally announced locations.

The interest rates are:

For Physical Damage: Percent

Homeowners with credit

available elsewhere ........... 7.625

Homeowners without credit

available elsewhere ........... 3.875

Businesses with credit available elsewhere ................... 8.000

Businesses and non-profit

organizations without

credit available elsewhere 4.000

Others (including non-profit

organizations) with credit

available elsewhere ........... 7.125

For Economic Injury:

Businesses and small agricultural cooperatives without credit available elsewhere ................................. 4.000

The number assigned to this disaster

for physical damage is 286511. For

economic injury the number is 894500.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008)

Dated: June 10, 1996.

John T. Spotila,

Acting Adminstrator.

[FR Doc. 96–15721 Filed 6–19–96; 8:45 am]

BILLING CODE 8025–01–P

[Declaration of Disaster Loan Area #2866]

Texas; Declaration of Disaster Loan

Area

Howard County and the contiguous

counties of Borden, Dawson, Glasscock,

Martin, Mitchell, Scurry, and Sterling

constitute a disaster area as a result of

damages caused by severe

thunderstorms and hail that occurred

May 10 through 13, 1996. Applications

for loans for physical damage may be

filed until the close of business on

August 9, 1996 and for economic injury

until the close of business on March 10,

1997 at the address listed below:

U.S. Small Business Administration,

Disaster Area 3 Office, 4400 Amon

Carter Blvd., Suite 102, Fort Worth,

Texas 76155

or other locally announced locations.

The interest rates are:

For Physical Damage: Percent

Homeowners with credit

available elsewhere ........... 7.625

Homeowners without credit

available elsewhere ........... 3.875

Businesses with credit available elsewhere ................... 8.000

Businesses and non-profit

organizations without

credit available elsewhere 4.000

Others (including non-profit

organizations) with credit

available elsewhere ........... 7.125

For Economic Injury:

Businesses and small agricultural cooperatives without credit available elsewhere ................................. 4.000

The number assigned to this disaster

for physical damage is 286611. For

economic injury the number is 894600.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008)

Dated: June 10, 1996.

John T. Spotila,

Acting Administrator.

[FR Doc. 96–15722 Filed 6–19–96; 8:45 am]

BILLING CODE 8025–01–P

Revocation of License of Small

Business Investment Company

Pursuant to the authority granted to

the United States Small Business

Administration by the Order of the

United States District Court for the

Southern District of Texas, dated

December 15, 1995, the United States

Small Business Administration hereby

revokes the license of First City Capital

Corporation, a Texas corporation, to

function as a small business investment

company under the Small Business

Investment Company License No. 06/

10–0022 issued to First City Capital

Corporation on August 26, 1960 and

said license is hereby declared null and

void as of March 28, 1996.

Dated: June 14, 1996.

United States Small Business

Administration.

Don A. Christensen,

Associate Administrator for Investment.

[FR Doc. 96–15786 Filed 6–22–96; 8:45 am]

BILLING CODE 1555–07–P