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Martin O'Malley, Governor Ch. 635
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(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;
(4) Information that relates to the satisfaction of the applicant's
requirements of subsections (f) and (g) of this section; and
(5) Any other information the Authority requires.
(b) Under the Program, any equity participation financing shall satisfy the
following requirements:
(1) The Authority may not:
(i) 1. Own securities representing more than [45] 49
percent of the voting stock of any franchise, technology-based business, or other
business; or
2. Own an interest greater than [45] 49 percent in any
franchise, technology-based business, or other business; or
(ii) 1. Own securities representing more than [25] 49
percent of the voting stock of any enterprise acquiring an existing business; or
2. Own an interest greater than [25] 49 percent in any
enterprise acquiring an existing business.
(2) The amount of the Authority's equity participation financing may
not exceed:
(i) 1. [$1,000,000] $2,000,000 for any franchise; or
2. [45] 49 percent of the total initial investment in the
franchise;
(ii) 1. [$1,000,000] $2,000,000 for any enterprise acquiring
an existing business; or
2. [25] 49 percent of the total investment in the
enterprise acquiring an existing business; or
(iii) [$1,000,000] $2,000,000 for a technology-based business or
other business.
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