Ch. 261                                          LAWS OF MARYLAND

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1988.

Approved May 17, 1988.

CHAPTER 261

(Senate Bill 96)

AN ACT concerning

Maryland Small Business Development Financing Authority -
Equity Participation Investment Program

FOR the purpose of repealing altering the requirement that the
total amount of equity participation financing under the
Maryland Small Business Development Financing Authority
Equity Participation Investment Program not exceed a certain
amount for a certain period of time; and making this Act an
emergency measure.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 13-240

Annotated Code of Maryland

(1986 Replacement Volume and 1987 Supplement)

Preamble

WHEREAS, Franchises have proven to be a fast growing and
reliable form of successful small business creation and
expansion; and

WHEREAS, The growth of franchises should be encouraged and
should be an integral part of the State's economic development
effort; and

WHEREAS, All socially or economically disadvantaged persons
have difficulty obtaining financing from financial institutions
to begin and develop a franchise; and

WHEREAS, It is the purpose of the Equity Participation
Investment Program to promote the creation and development of
franchises in the State by all socially on economically
disadvantaged persons; now, therefore,

- 2654 -