CFR › Title 7 › Part 4290 › §4290.1407 CFR §4290.140Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗Copy linkA RBIC must have its Management Expenses approved by the Agency at the time it is licensed. (See § 4290.520 for the definition of Management Expenses.)