90-8-103. Purpose.
90-8-103. Purpose. (1) The purpose of this chapter is to promote the development of the human resources and the diversification of the economy of Montana. The venture capital generated by this chapter must be used to encourage and assist the strengthening of the economy through loans, equity investments, and other business transactions for purposes of developing new small business and industry in Montana, rehabilitating existing small business and industry, and stimulating and assisting in the expansion of small business activities that promote and maintain the economic stability of the state by providing maximum opportunities for employment of Montanans and improving the standard of living of the people of Montana.
(2) This chapter is aimed at:
(a) increasing the availability of development capital in order to encourage and assist in the creation, development, and expansion of small businesses based in Montana;
(b) aiding those businesses to which risk and equity financing are not readily or fully available through traditional sources, including those owned and operated by women and minorities;
(c) developing, preserving, diversifying, expanding, and strengthening the agricultural, industrial, and business base of Montana's economy, particularly for those small businesses utilizing the state's technical, managerial, and research resources in domestic and international markets; and
(d) providing the residents of Montana with greater opportunities to invest and participate in the economic development and potential of the state.
History: En. Sec. 3, Ch. 554, L. 1983.