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§ 10-701. Definitions

West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2008

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 7. Maryland Venture Capital Trust (Refs & Annos)
Effective: October 1, 2008
MD Code, Economic Development, § 10-701
§ 10-701. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Board
(b) “Board” means the Board of Trustees of the Maryland Venture Capital Trust.
Investor
(c) “Investor” means a person or governmental entity that invests money in the Maryland Venture Capital Trust.
Seed capital financing
(d)(1) “Seed capital financing” means financing provided to a business during the initial stages of its development.
(2) “Seed capital financing” includes financing for a business:
(i) to finish research and development of a product;
(ii) to develop marketing plans; and
(iii) to provide for initial facilities, inventory, and working capital.
Trust
(e) “Trust” means the Maryland Venture Capital Trust.
Venture capital fund
(f) “Venture capital fund” means an investment fund that provides capital to a business at any stage of its development before the business makes a public offering of stock.

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.
MD Code, Economic Development, § 10-701, MD ECON DEV § 10-701
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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