Ch. 691                                    1994 LAWS OF MARYLAND

Approved May 26, 1994.

CHAPTER 691
(House Bill 1566)

AN ACT concerning

Department of Economic and Employment Development - Maryland Small Business
Development Financing Authority - Specialized Small Business Investment Companies

FOR the purpose of authorizing the Department of Economic and Employment
Development to invest its funds in one or more specialized small business
investment companies and to participate in the development of those companies;
allowing the Maryland Small Business Development Financing Authority
Department of Economic and Employment Development to contract with a private
management company to administer the Small Business Development Contract
Financing Fund, the Small Business Development Guaranty Fund, the Small
Business Surety Bond Fund, and the Equity Participation Investment Program; and
generally relating to the Maryland Small Business Development Financing
Authority.                                                                                                               

BY adding to

Article 83A - Department of Economic and Employment Development

Section 1-205.2

Annotated Code of Maryland

(1991 Replacement Volume and 1993 Supplement)

BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 13-201, 13-208, and 13-211
Annotated Code of Maryland
(1992 Replacement Volume and 1993 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 83A - Department of Economic and Employment Development

1-205.2.

(A) THE SECRETARY IS AUTHORIZED TO INVEST IN ONE OR MORE
SPECIALIZED SMALL BUSINESS INVESTMENT COMPANIES CREATED PURSUANT TO
THE FEDERAL SMALL BUSINESS INVESTMENT ACT OF 1958.

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