Section 10-708 - Preferred proposals.
§ 10-708. Preferred proposals.
The Board shall give preference to venture capital fund proposals that:
(1) provide financing predominately to businesses that conduct a substantial amount of business in the State;
(2) require venture capital funds to match the money invested by the Trust with money invested by private investors on at least a 1 to 3 ratio; and
(3) ensure that a majority of the money that the Trust invests is for seed capital financing in the State.
[An. Code 1957, art. 83A, § 5-306(a); 2008, ch. 306, § 2.]