§382. Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 1995, c. 699, §3 (NEW).]

1.  Board.  "Board" means the Small Enterprise Growth Board.

[PL 1995, c. 699, §3 (NEW).]

2.  Fund.  "Fund" means the Small Enterprise Growth Fund.

[PL 1995, c. 699, §3 (NEW).]

3.  Program.  "Program" means the Small Enterprise Growth Program, which encompasses the Small Enterprise Growth Fund and any side fund created by the board.

[PL 2009, c. 475, §1 (AMD).]

3-A.  Program funds.  "Program funds" means the Small Enterprise Growth Fund and any side funds created by the board.

[PL 2009, c. 475, §2 (NEW).]

4.  Qualifying small business.  "Qualifying small business" means, for the purpose of an initial disbursement by the board under section 388, a business employing 50 or fewer employees or having gross sales not exceeding $5,000,000 within the most recent 12 months for which financial statements are available. For the purpose of a subsequent disbursement, "qualifying small business" means a business to which the board has previously made a disbursement and that, in the judgment of the board, evidences continued potential for high growth.

[PL 2001, c. 541, §1 (AMD).]

5.  Side fund.  "Side fund" means a fund other than the Small Enterprise Growth Fund administered by the board that is invested as determined by the board.

[PL 2009, c. 475, §3 (NEW).]

SECTION HISTORY

PL 1995, c. 699, §3 (NEW). PL 1999, c. 504, §2 (AMD). PL 2001, c. 541, §1 (AMD). PL 2009, c. 475, §§1-3 (AMD).