(a) A certified capital company may, before making an investment in a business, request from the Alabama Development Office a written opinion as to whether the business in which it proposes to invest is a qualified technology business.
(b) The Alabama Development Office shall, not later than the 15th business day after the date of the receipt of a request under subsection (a), determine whether the business meets the definition of a qualified technology business, and notify the certified capital company of the determination and an explanation of its determination or notify the certified capital company that an additional 15 days will be needed to review and make the determination.
(c) If the Alabama Development Office fails to notify the certified capital company with respect to the proposed investment within the period specified by subsection (b), the business in which the company proposes to invest is considered to be a qualified technology business.
Structure Code of Alabama
Title 40 - Revenue and Taxation.
Chapter 14B - Certified Capital Company; Premium Tax Credit.
Section 40-14B-1 - Definitions.
Section 40-14B-2 - Administration of Chapter.
Section 40-14B-3 - Application for Certification.
Section 40-14B-4 - Prohibited Activities.
Section 40-14B-5 - Statement Included With Offering.
Section 40-14B-6 - Qualified Investments.
Section 40-14B-7 - Development Office Opinion as to Proposed Investments.
Section 40-14B-8 - Report Upon Receipt of Certified Capital; Annual Report; Financial Statement.
Section 40-14B-9 - Renewal Fee.
Section 40-14B-10 - Qualified Distributions.
Section 40-14B-11 - Annual Review; Decertification.
Section 40-14B-12 - Recapture of Forfeiture of Premium Tax Credits.
Section 40-14B-13 - Indemnification, etc., of Certified Investors.
Section 40-14B-14 - Vested Premium Tax Credit - Generally.
Section 40-14B-15 - Vested Premium Tax Credit - Claim.
Section 40-14B-16 - Vested Premium Tax Credit - Amounts Allowed.
Section 40-14B-17 - Vested Premium Tax Credit - Pro Rata Allocation.
Section 40-14B-18 - Certified Capital as Admitted Asset.
Section 40-14B-19 - Rate Making for Insurance Contract.
Section 40-14B-20 - Transfer or Assignment of Premium Tax Credits.