HARRY HUGHES, Governor                     3639

(4) CONDITION AGREEMENTS UNDER THE PROGRAM ON

CONTRACTUAL ASSURANCES THAT THE BENEFITS OF INCREASING EMPLOYMENT
AND TAX REVENUES SHALL REMAIN IN THE STATE AND SHALL ACCRUE TO
THE STATE.

13-240.

IN ADDITION TO THE SPECIFIC POWERS GRANTED AND DUTIES
IMPOSED UNDER THIS PROGRAM, THE AUTHORITY MAY FRANCHISES HELD
AND OPERATED BY SOCIALLY OR ECONOMICALLY DISADVANTAGED PERSONS IN
THE STATE;

(1) (2) BUY, HOLD, AND SELL QUALIFIED SECURITIES;

(2) SOLICIT, STUDY, AND ASSIST IN THE PREPARATION OF
BUSINESS PLANS AND PROPOSALS OF NEW OR ESTABLISHED BUSINESSES
SUITABLE FOR SUPPORT BY THE AUTHORITY;

(3)  PREPARE, PUBLISH, AND DISTRIBUTE, WITH OR WITHOUT
CHARGE AS THE AUTHORITY MAY DETERMINE, TECHNICAL STUDIES,
REPORTS, AND OTHER MATERIALS IT CONSIDERS APPROPRIATE; AND,

SUBJECT ONLY TO THE MAINTENANCE OF, AND RESPECT FOR

CONFIDENTIALITY OF, CLIENT PROPRIETARY INFORMATION; AND

(4)  PROVIDE AND PAY FOR ANY ADVISORY SERVICES AND
TECHNICAL ASSISTANCE NECESSARY OR DESIRABLE TO CARRY OUT THE
PURPOSES OF THE PROGRAM.

13-241. 13-240.

(A) UNDER THE PROGRAM, THE AUTHORITY MAY PROVIDE EQUITY
PARTICIPATION FINANCING, INCLUDING THE PURCHASE OF QUALIFIED
SECURITIES ISSUED BY AN ENTERPRISE A FRANCHISE, ONLY AFTER THE
ENTERPRISE HAS SUBMITTED AN APPLICATION THAT CONTAINS A BUSINESS
PLAN, INCLUDING:

(1)  A DESCRIPTION OF THE ENTERPRISE FRANCHISEE AND
ITS MANAGEMENT, PRODUCT, AND MARKET;

(2)  A STATEMENT OF THE AMOUNT, IMMEDIACY OF NEED, AND
PROJECTED USE OF THE CAPITAL REQUIRED;

(3)  A STATEMENT OF THE POTENTIAL ECONOMIC IMPACT OF
THE PURCHASE; AND

(4) INFORMATION THAT RELATES TO THE SATISFACTION OF
THE APPLICANT'S REQUIREMENTS OF § 13-231 OF THIS SUBTITLE; AND

(4) (5) ANY OTHER INFORMATION THE AUTHORITY REQUIRES.

(B) THE AUTHORITY MAY PURCHASE SECURITIES IN AN ENTERPRISE
ONLY AFTER FINDING, BASED ON THE APPLICATION SUBMITTED BY THE
ENTERPRISE AND ANY ADDITIONAL INVESTIGATION THE STAFF OF THE
AUTHORITY SHALL MAKE, THAT: