### Question
What does underlicensed State mean?


### Answer
**Underlicensed State** has the following meaning in *15 U.S.C. § 662*:

> a State in which the number of licensees per capita is less than the median number of licensees per capita for all States, as calculated by the Administrator

#### Citation:
  - *15 U.S.C. § 662*
  - Heading: **CHAPTER 14B-SMALL BUSINESS INVESTMENT PROGRAM > SUBCHAPTER I-GENERAL PROVISIONS**

