PREFERRED PARTNERSHIP INTERESTS.

SEC. 412. PREFERRED PARTNERSHIP INTERESTS. Section 303(c) of the Small Business Investment Act of 1958 (15 U.S.C. 683(c)) is amended— (1) by striking from the first sentence the word “preferred”; (2) by inserting after the second sentence the following: “As used in this subsection, the term ‘securities’ means snares of nonvoting stock or other corporate securities or limited partnership interests which have similar characteristics.”; and (3) by striking from paragraph (1) “shares of nonvoting stock (or other corporate securities having similar characteristics)” and inserting in lieu thereof “such securities”.