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3632 LAWS OF MARYLAND Ch. 775
General Assembly by December 31, 1987 and shall automatically
terminate as of the same date.
SECTION 2 4. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1985.
Approved May 28, 1985.
CHAPTER 776
(House Bill 1297)
AN ACT concerning
Maryland Small Business Development Financing Authority -
Venture Capital Equity Participation Investment Program
FOR the purpose of creating the Venture Capital Equity
Participation Investment Program in the Department of
Economic and Community Development; providing that the
Program is administered by the Maryland Small Business
Development Financing Authority; making certain findings and
defining certain terms; providing for the purposes of the
Program; establishing certain powers and duties of the
Authority under the Program; requiring an enterprise
applicant to meet certain conditions to obtain assistance
through the Program; establishing certain limits on
investments made by the Authority under the Program;
establishing the Venture Capital Equity Participation
Investment Program Fund and providing for its revenues and
uses; providing that the State Treasurer shall hold and the
State Comptroller account for the Fund; providing for the
issuance of general obligation bonds by the State to provide
moneys for the Fund withdrawals from the Small Business
Development Guaranty Fund to provide initial capitalization
for the Equity Participation Investment Program Fund; and
generally relating to the Venture Capital Equity
Participation Investment Program and the Venture Capital
Equity Participation Investment Fund administered by the
Maryland Small Business Development Financing Authority.
BY renumbering
Article - Financial Institutions
Section 13-235 and the part "Part VII. Remedies of
Authority", respectively
to be Section 13-244 13-242 and the part "Part
VIII. Remedies of Authority", respectively
Annotated Code of Maryland
(1980 Volume and 1984 Supplement)
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