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<section article="gec" article_name="Economic Development" number="10-4A-18" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="4A" subtitle_name="Invest Maryland Program">
  <level label="a">
    <text>A purchaser or affiliate may not directly or indirectly:</text>
    <level label="1">
      <text>manage a venture firm;</text>
    </level>
    <level label="2">
      <text>beneficially own, through rights, options, convertible interests, or otherwise, more than 15% of the voting securities or other voting ownership interest of a venture firm; or</text>
    </level>
    <level label="3">
      <text>control the direction of investments for a venture firm.</text>
    </level>
  </level>
  <level label="b">
    <text>Subsection (a) of this section applies whether or not the purchaser or affiliate is authorized to do business in the State.</text>
  </level>
</section>
