Md. Code Regs. 14.04.06.07

Current through Register Vol. 52, No. 1, January 10, 2025

Section 14.04.06.07 - Procedures and Guidelines for Investment Decisions

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.

Md. Code Regs. 14.04.06.07

Regulation .07 adopted effective 46:26 Md. R. 1167, eff. 12/30/2019; amended effective 49:4 Md. R. 302, eff. 2/21/2022; amended effective 50:18 Md. R. 800, eff. 9/18/2023