Sec. 14.04.06.07. Procedures and Guidelines for Investment Decisions

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A. In General. Except as provided in §§B and C of this regulation, TEDCO shall select businesses for investment by Maryland Venture Fund in accordance with the application process set forth in COMAR 14.04.02.

B. Enterprise Fund. For Enterprise Fund investments:

(1) TEDCO may not acquire an ownership interest in a business that exceeds 25 percent of the business; and

(2) Within 15 years of making the investment, TEDCO shall divest itself of the investment.

C. State Small Business Credit Initiative Funds. All investments using proceeds through the Enterprise Fund allocated to the State under the federal State Small Business Credit Initiative Act of 2010 shall comply with 12 U.S.C. 5701 et seq.

                    
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