Section 15-127-18 - Application procedures(a) The corporation may solicit proposals for financing, advertise, accept referrals or unsolicited proposals as the board deems appropriate. The board may require submission of business plans in the case of enterprises or a statement of investment philosophy and performance record in the case of seed and venture financing organizations.(b) The board shall approve or disapprove requests for assistance within ninety days of receiving a complete written application. Upon written request by an applicant, the board may reconsider its denial of an application for assistance or may waive the ninety-day deadline for approving or disapproving an application.(c) Any person who submits any statement, report, application, or other document to the corporation which is known to the person to be false in any material respect shall be guilty of a class C felony.(d) The corporation may condition any assistance of any type by placing restrictions on the recipients in regard to the recipient's assets or indebtedness or in any other manner deemed appropriate by the corporation. A recipient who accepts assistance from the corporation shall be deemed to agree to be bound by any conditions or restrictions imposed by the corporation.[Eff JUL 20 1991] (Auth: HRS § 211F-2) (Imp: HRS § 211F-2)