Maryland § 10-4A-09
Full text of Maryland Maryland Code § 10-4A-09, with citation guidance and answers to common questions.
§ 10-4A-09.
(a) All designated capital from purchasers shall be deposited into the Enterprise Fund to be invested as provided in this subtitle.
(b) The Corporation shall allocate designated capital as follows:
(1) 67% to one or more venture firms to fund the making of qualified investments based on the criteria set forth in this subtitle, provided, that not more than 20% of this amount may be invested in the side car fund affiliates of the venture firms; and
(2) 33% to the Enterprise Fund, to be allocated:
(i) $250,000 to the Rural Maryland Council for its operational expenses;
(ii) 75% of the remaining amount to fund the making of qualified investments in qualified businesses under the existing policies and procedures of the Enterprise Fund; and
(iii) 25% of the remaining amount to the Financing Authority Equity Participation Investment Program, to be invested in qualified businesses in accordance with the policies and procedures of the Financing Authority under Title 5, Subtitle 5, Part V of this article.
(c) It is the goal of the State that a portion of the designated capital received under subsection (b)(2)(ii) of this section be used to make qualified investments in qualified businesses located in rural areas of the State.
(d) As soon as practicable after the Corporation receives each installment of designated capital, the Corporation and each venture firm that has been allocated designated capital shall enter into a contract under which the allocated amount of designated capital will be transferred by the Corporation to the venture firm for investment as provided in this subtitle.
(e) The Corporation shall secure the commitment of the purchasers in accordance with § 10–4A–10 of this subtitle.
Frequently Asked Questions About Maryland § 10-4A-09
What does Maryland Code § 10-4A-09 cover?
Section 10-4A-09 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 § 10-4A-09?
A common citation format is "Maryland Code § 10-4A-09" (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 § 10-4A-09 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.