Regulation .07 Procedures and Guidelines for Investment Decisions.
Regulation .07 Procedures and Guidelines for Investment Decisions.LinkCopy Citation
A.
In General. Except as provided in §§B and C of this regulation, TEDCO shall select businesses for investment by Maryland Venture Fund in accordance with the application process set forth in COMAR 14.04.02.
B.
Enterprise Fund. For Enterprise Fund investments:
(1)
TEDCO may not acquire an ownership interest in a business that exceeds 25 percent of the business; and
(2)
Within 15 years of making the investment, TEDCO shall divest itself of the investment.