Maryland § 10-470
Full text of Maryland Maryland Code § 10-470, with citation guidance and answers to common questions.
§ 10-470.
(a) The Corporation may require that all or part of a grant be repaid, with interest at a rate the Corporation sets, when conditions specified by the Corporation occur.
(b) (1) Whenever the Corporation is authorized by law to make a grant, including a grant from the Economic Development Opportunities Program Account authorized under § 7–314 of the State Finance and Procurement Article, the Corporation may use money appropriated for the grant to make an equity investment in a qualified business.
(2) (i) Except as provided in subparagraph (ii) of this paragraph and Subtitle 4A of this title, in making an equity investment under this subtitle or Subtitle 4A of this title, the Corporation may not acquire an ownership interest in an enterprise that exceeds 25%.
(ii) In making an equity investment under this subtitle or Subtitle 4A of this title in one or more venture or private equity firms, the Corporation may acquire an ownership interest exceeding 25%.
(3) Within 15 years after making an equity investment under this subtitle or Subtitle 4A of this title, the Corporation shall divest itself of that investment.
(4) The liability of the State and the Corporation in making an equity investment under this subtitle or Subtitle 4A of this title is limited to the amount of that investment.
Frequently Asked Questions About Maryland § 10-470
What does Maryland Code § 10-470 cover?
Section 10-470 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 10-470?
A common citation format is "Maryland Code § 10-470" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-470 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.