Chapter 77 - Venture Capital Act of 1994

Chapter 77 - Venture Capital Act of 1994

§ 57-77-1. Short title
§ 57-77-2. Legislative intent
§ 57-77-3. Purpose of chapter; entities as instrumentalities of the state; sovereign immunity
§ 57-77-5. Definitions
§ 57-77-7. Taxpayer entitlement to credit against state tax liability
§ 57-77-9. Formation of Magnolia Capital Corporation; officers and directors; bylaws and articles of incorporation; general powers and duties; meetings; replacement of directors; dissolution of Magnolia Venture Capital Corporation and fund
§ 57-77-11. Formation of Magnolia Venture Capital Corporation; officers and directors; bylaws and articles of incorporation; general powers and duties; replacement of directors; dissolution of Magnolia Venture Capital Corporation and fund
§ 57-77-13. Exemption from taxation and license fees of Magnolia Venture Capital Corporation
§ 57-77-15. Magnolia Capital Corporation to apply to department for loan
§ 57-77-17. Terms and conditions of loan to Magnolia Capital Corporation
§ 57-77-19. Assistance of Magnolia Capital Corporation with program compliance
§ 57-77-21. Reports by Magnolia Capital Corporation
§ 57-77-23. Authority of corporations to engage professional services
§ 57-77-25. Adoption of eligibility criteria, timetable and report forms governing Magnolia Capital Corporation participation in venture capital loan program; adoption of applications, forms, procedures and requirements by Magnolia Venture Capital Corporation
§ 57-77-27. Certification of nondiscrimination as condition to assistance to business
§ 57-77-29. Creation of Venture Capital Fund; deposits and disbursements; disposition of funds for repayment of bonds; use of remaining monies; receipt and use of monetary and nonmonetary assets
§ 57-77-31. Redemption, repayment, purchase or cancellation of bonds and notes; appropriations for payment of principal and interest on bonds and notes; rate of interest on loans made using funds from Venture Capital Fund
§ 57-77-33. Issuance of bonds and notes generally; terms, form, execution, etc., of bonds and notes
§ 57-77-35. Sale of bonds; temporary bonds; investment of bond proceeds; registration of bond sales; payment of costs and expenses
§ 57-77-37. Disposition of proceeds of sale of bonds; allocation of nonfederal funds
§ 57-77-39. Representation of seller by Attorney General with respect to issuing, selling and validating bonds or notes; payment of expenses relating to issuance of bonds or notes

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