Minnesota § 161.3212 - WORKING CAPITAL FUND
Full text of Minnesota Minnesota Statutes § 161.3212 — WORKING CAPITAL FUND, with citation guidance and answers to common questions.
§ 161.3212. WORKING CAPITAL FUND
The commissioner, to the extent allowed by other law or contract, may grant available money that has been appropriated for socially or economically disadvantaged business programs to a guaranty fund administered by a nonprofit organization that makes or guarantees working capital loans to small business concerns owned and operated by socially and economically disadvantaged individuals. "Small business concern" and "socially and economically disadvantaged individual" have the meanings given them in Code of Federal Regulations, title 49, section 26.5. The purpose of loans made or guaranteed by the organization must be to provide short-term working capital to enable eligible businesses to be awarded contracts for goods and services or for construction-related services from government agencies.
Money contributed from a constitutionally or statutorily dedicated fund must be used only for purposes consistent with the purposes of the dedicated fund.
History:
1989 c 320 s 1; 2012 c 287 art 3 s 5
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 161.3212
What does Minnesota Statutes § 161.3212 cover?
Section 161.3212 ("WORKING CAPITAL FUND") is part of the Minnesota Statutes, the codified statutory law of Minnesota. 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 Minnesota § 161.3212?
A common citation format is "Minnesota Statutes § 161.3212" (Minnesota). 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 Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 161.3212 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota 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 Minnesota.