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<P style="margin:0pt; line-height:20pt; font-family:Times New Roman; font-size:18pt" align=center><B>U.S. SECURITIES AND EXCHANGE COMMISSION </B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Washington, D.C. 20549 </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:20pt; font-family:Times New Roman; font-size:18pt" align=center><B>FORM 8-K </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>CURRENT REPORT </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Date of Report (Date of earliest event reported): August 8, 200<A NAME="FIS_UNIDENTIFIED_TABLE"></A>7</B>&nbsp; <BR>
</P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:20pt; font-family:Times New Roman; font-size:18pt" align=center><B>Venture Lending &amp; Leasing V, Inc. </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt" align=center><B>(Exact name of registrant as specified in its charter) </B></P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=221.667>&nbsp;</TD><TD valign=bottom width=13.467>&nbsp;</TD><TD width=208.333>&nbsp;</TD><TD valign=bottom width=13.467>&nbsp;</TD><TD width=215.067>&nbsp;</TD></TR>
<TR><TD valign=bottom width=221.667><P style="margin:0pt; font-family:Times New Roman" align=center><B>DELAWARE </B></P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=208.333><P style="margin:0pt; font-family:Times New Roman" align=center><B>814-00731</B></P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=215.067><P style="margin:0pt; font-family:Times New Roman" align=center><B>14-1974295</B></P>
</TD></TR>
<TR><TD valign=top width=221.667><P style="margin:0pt; font-family:Times New Roman" align=center>(State&nbsp;or&nbsp;other&nbsp;jurisdiction </P>
<P style="margin-top:0pt; margin-bottom:0.75pt; font-family:Times New Roman" align=center>of incorporation) </P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=top width=208.333><P style="margin:0pt; font-family:Times New Roman" align=center>(Commission </P>
<P style="margin-top:0pt; margin-bottom:0.75pt; font-family:Times New Roman" align=center>File Number) </P>
</TD><TD valign=bottom width=13.467><P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=215.067><P style="margin:0pt; font-family:Times New Roman" align=center>(I.R.S. Employer </P>
<P style="margin-top:0pt; margin-bottom:0.75pt; font-family:Times New Roman" align=center>Identification No.) </P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>2010 North First Street, Suite 310, San Jose, CA 95131</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>(Address of principal executive offices, zip code) </P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman" align=center>Registrant&#146;s telephone number, including area code: <B>(408) 436-8577 </B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>N/A </B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>(Former name or former address, if changed since last report) </P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<A NAME="OLE_LINK3"></A><A NAME="OLE_LINK4"></A><TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:9.5pt; font-family:Times New Roman; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=25.267><P style="margin:0pt; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0pt; font-family:Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<BR></P>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman"><B>Item 5.02.&nbsp;&nbsp;&nbsp;&nbsp;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></P>
<BR>
<P style="margin:0pt; text-indent:36pt; font-family:Times New Roman">Venture Lending &amp; Leasing V, Inc. (the &#147;Fund&#148;) is currently negotiating a debt facility (the &#147;Facility&#148;). &nbsp;One of the conditions established by the lenders to the Facility is the adoption of Amended and Restated Bylaws of the Fund (the &#147;Amended Bylaws&#148;) so as to enable the Fund to more closely resemble a bankruptcy-remote, special purpose entity (an &#147;SPE&#148;). &nbsp;The Amended Bylaws, which are described in more detail under Item 5.03 below, provide that the Fund will have a &#147;Designated Director.&#148; &nbsp;In anticipation of the closing of the Facility, the Board of Directors of the Fund, on August 8, 2007, resolved to increase the size of the Board from five to seven directors, and appointed George Von Gehr and Bernard Angelo as directors of the Fund, effective as of August 9, 2007, to fill the vacancies created by the increase in Board size. &nbsp;The lenders to the Facility have indicated that they will accept Mr. Angelo as the &#147;Designated Director&#148; required by the Amended Bylaws. &nbsp;The Fund will treat Mr. Angelo as an &#147;interested person&#148; of the Fund as defined under the Investment Company Act of 1940 (the &#147;1940 Act&#148;).</P>
<P style="margin:0pt; text-indent:6pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; text-indent:36pt; font-family:Times New Roman">Mr. Von Gehr will serve as an independent director of the Fund who is not an &#147;interested person&#148; of the Fund as defined under the 1940 Act. &nbsp;As an independent director, Mr. Von Gehr will also be a member of the Fund&#146;s Audit and Nominating Committees. &nbsp;</P>
<P style="margin:0pt; text-indent:6pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; font-family:Times New Roman"><B>Item 5.03. &nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:4.15pt; text-indent:72pt; font-family:Times New Roman"><B>Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year</B></P>
<P style="margin-top:0pt; margin-bottom:4.15pt; text-indent:36pt; font-family:Times New Roman; font-size:12pt">&nbsp;Also in anticipation of the closing of the Facility, the Board of Directors of the Fund voted on August 8, 2007, to adopt the Amended Bylaws. &nbsp;The Amended Bylaws are filed as an exhibit to this Form 8-K. &nbsp;The Amended Bylaws add a new Article XI to the Bylaws, to allow the Fund to more closely resemble an SPE and to be effective as long as the Fund owes any indebtedness or is subject to any other liabilities under the Facility. &nbsp;A summary of the material changes made by the Amended Bylaws is as follows:</P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.15pt; padding-left:36pt; font-family:Symbol"><FONT FACE="Times New Roman">The Fund is required to appoint one additional director to the Fund&#146;s Board of Directors who shall qualify as a &#147;Designated Director.&#148; A Designated Director is defined to mean a director of the Fund who is not, and has not been at any time during the preceding five years, (i) a shareholder, director (other than as a Designated Director of the Fund or of any special purpose affiliate organized by the Fund), officer, employee, partner, or attorney of the Fund, or of any affiliate of the Fund; (ii) a customer, supplier, or other person who derives any of its purchases or revenues from its activities with the Fund or with any affiliate of the Fund; (iii) a person controlling or under common control with any such shareholder, partner, customer, supplier or other person; or (iv) a member of the immediate family of any such shareholder, director, officer, employee, partner, customer, supplier, or other person. In the event of the death, resignation, expulsion, incapacity or removal of the Designated Director, the successor Designated Director will be elected by the majority vote of the remaining Directors. </FONT></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.15pt; padding-left:36pt; font-family:Symbol"><FONT FACE="Times New Roman">Article XI contains policies to be observed by the Fund to insure its separateness from its affiliates and those entities that do business with the Fund, including a prohibition on commingling the assets of the Fund with those of any other entity; the maintenance of separate books and records and financial statements; the observance of all corporate formalities; the conduct of relations with affiliates on an arms-length basis; a prohibition on the execution of guaranties of, or pledges of its assets for, the debts of any other entity; and the maintenance of adequate capital in light of the Fund&#146;s contemplated business operations.</FONT></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.15pt; padding-left:36pt; font-family:Symbol"><FONT FACE="Times New Roman">The dissolution or liquidation of the Fund, merger or consolidation of the Fund with any other entity, disposition of substantially all of the Fund&#146;s assets or acquisition of substantially all of the assets of any other entity by the Fund, or institution of proceedings to be adjudicated a bankrupt or insolvent, any consent to the institution of bankruptcy or insolvency proceedings against the Fund, the consent to the appointment of a receiver, trustee, liquidator, or other similar and like actions, shall require the unanimous consent of the Directors of the Fund, including the Designated Director. </FONT></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.15pt; padding-left:36pt; font-family:Symbol"><FONT FACE="Times New Roman">Article XI includes specific provisions directing the Designated Director, when considering voting on any such matter, to consider his or her primary fiduciary duty to be to the Fund (including, without limitation, to its creditors). </FONT></P>
<P style="margin:0pt; text-indent:6pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; text-indent:6pt; font-family:Times New Roman"><BR>
<BR></P>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman"><BR>
<BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman">Item 9.01 &nbsp;Financial Statements and Exhibits</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-bottom:-12pt; font-family:Times New Roman">Exhibit Number </P>
<P style="margin:0pt; text-indent:72pt; font-family:Times New Roman">Description</P>
<P style="margin-top:0pt; margin-bottom:-12pt; font-family:Times New Roman">&nbsp;------------------</P>
<P style="margin:0pt; text-indent:72pt; font-family:Times New Roman">--------------- </P>
<P style="margin-top:0pt; margin-bottom:-12pt; font-family:Times New Roman">99.1</P>
<P style="margin-top:0pt; margin-bottom:-12pt; text-indent:72pt; font-family:Times New Roman">Amended and Restated Bylaws of Venture Lending &amp; Leasing V, Inc.</P>
<P style="margin:0pt; text-indent:360pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>SIGNATURES</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; text-indent:72pt; font-family:Times New Roman; font-size:12pt" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">VENTURE LENDING &amp; LEASING V, INC.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(Registrant)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">By:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U>/S/ Ronald W. Swenson</U></P>
<U><P style="margin-top:0pt; margin-bottom:-14pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></U>By:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:288pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U>/S/ Martin D. Eng</U></P>
<P style="margin:0pt; text-indent:432pt; font-family:Times New Roman; font-size:12pt"><U><BR></U></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Ronald W. Swenson</P>
<P style="margin:0pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Martin D. Eng</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; text-indent:-252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Chief Executive Officer</P>
<P style="margin:0pt; padding-left:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Chief Financial Officer</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; text-indent:-252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Date: </P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; text-indent:-216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">August 10, 2007</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Date:</P>
<P style="margin:0pt; padding-left:252pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">August 10, 2007</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
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Converted by EDGARwiz
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 8, 200
7
Venture Lending & Leasing V, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE
814-00731
14-1974295
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
2010 North First Street, Suite 310, San Jose, CA 95131
(Address of principal executive offices, zip code)
Registrant's telephone number, including area code:
(408) 436-8577
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Venture Lending & Leasing V, Inc. (the "Fund") is currently negotiating a debt facility (the "Facility").  One of the conditions established by the lenders to the Facility is the adoption of Amended and Restated Bylaws of the Fund (the "Amended Bylaws") so as to enable the Fund to more closely resemble a bankruptcy-remote, special purpose entity (an "SPE").  The Amended Bylaws, which are described in more detail under Item 5.03 below, provide that the Fund will have a "Designated Director."  In anticipation of the closing of the Facility, the Board of Directors of the Fund, on August 8, 2007, resolved to increase the size of the Board from five to seven directors, and appointed George Von Gehr and Bernard Angelo as directors of the Fund, effective as of August 9, 2007, to fill the vacancies created by the increase in Board size.  The lenders to the Facility have indicated that they will accept Mr. Angelo as the "Designated Director" required by the Amended Bylaws.  The Fund will treat Mr. Angelo as an "interested person" of the Fund as defined under the Investment Company Act of 1940 (the "1940 Act").
Mr. Von Gehr will serve as an independent director of the Fund who is not an "interested person" of the Fund as defined under the 1940 Act.  As an independent director, Mr. Von Gehr will also be a member of the Fund's Audit and Nominating Committees.
Item 5.03.
Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year
Also in anticipation of the closing of the Facility, the Board of Directors of the Fund voted on August 8, 2007, to adopt the Amended Bylaws.  The Amended Bylaws are filed as an exhibit to this Form 8-K.  The Amended Bylaws add a new Article XI to the Bylaws, to allow the Fund to more closely resemble an SPE and to be effective as long as the Fund owes any indebtedness or is subject to any other liabilities under the Facility.  A summary of the material changes made by the Amended Bylaws is as follows:
·
The Fund is required to appoint one additional director to the Fund's Board of Directors who shall qualify as a "Designated Director." A Designated Director is defined to mean a director of the Fund who is not, and has not been at any time during the preceding five years, (i) a shareholder, director (other than as a Designated Director of the Fund or of any special purpose affiliate organized by the Fund), officer, employee, partner, or attorney of the Fund, or of any affiliate of the Fund; (ii) a customer, supplier, or other person who derives any of its purchases or revenues from its activities with the Fund or with any affiliate of the Fund; (iii) a person controlling or under common control with any such shareholder, partner, customer, supplier or other person; or (iv) a member of the immediate family of any such shareholder, director, officer, employee, partner, customer, supplier, or other person. In the event of the death, resignation, expulsion, incapacity or removal of the Designated Director, the successor Designated Director will be elected by the majority vote of the remaining Directors.
·
Article XI contains policies to be observed by the Fund to insure its separateness from its affiliates and those entities that do business with the Fund, including a prohibition on commingling the assets of the Fund with those of any other entity; the maintenance of separate books and records and financial statements; the observance of all corporate formalities; the conduct of relations with affiliates on an arms-length basis; a prohibition on the execution of guaranties of, or pledges of its assets for, the debts of any other entity; and the maintenance of adequate capital in light of the Fund's contemplated business operations.
·
The dissolution or liquidation of the Fund, merger or consolidation of the Fund with any other entity, disposition of substantially all of the Fund's assets or acquisition of substantially all of the assets of any other entity by the Fund, or institution of proceedings to be adjudicated a bankrupt or insolvent, any consent to the institution of bankruptcy or insolvency proceedings against the Fund, the consent to the appointment of a receiver, trustee, liquidator, or other similar and like actions, shall require the unanimous consent of the Directors of the Fund, including the Designated Director.
·
Article XI includes specific provisions directing the Designated Director, when considering voting on any such matter, to consider his or her primary fiduciary duty to be to the Fund (including, without limitation, to its creditors).
Item 9.01  Financial Statements and Exhibits
Exhibit Number
Description
------------------
---------------
99.1
Amended and Restated Bylaws of Venture Lending & Leasing V, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized.
VENTURE LENDING & LEASING V, INC.
(Registrant)
By:
/S/ Ronald W. Swenson
By:
/S/ Martin D. Eng
Ronald W. Swenson
Martin D. Eng
Chief Executive Officer
Chief Financial Officer
Date:
August 10, 2007
Date:
August 10, 2007