<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".07" citation="COMAR 14.04.06.07" title_num="14" subtitle_num="04" chapter_num="06" heading="Procedures and Guidelines for Investment Decisions.">
  <paragraph num="A.">
    <text>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.</text>
  </paragraph>
  <paragraph num="B.">
    <text>Enterprise Fund. For Enterprise Fund investments:</text>
    <paragraph num="(1)">
      <text>TEDCO may not acquire an ownership interest in a business that exceeds 25 percent of the business; and</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Within 15 years of making the investment, TEDCO shall divest itself of the investment.</text>
    </paragraph>
  </paragraph>
</regulation>