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Part I - General Provisions
Section 5-501 - Definitions - (a) In this subtitle the following words have the meanings...
Section 5-502 - Legislative Findings; Purposes - (a) The General Assembly finds that: (1) the inability of...
Part II - Maryland Small Business Development Financing Authority
Section 5-505 - Established - There is a Maryland Small Business Development Financing Authority in...
Section 5-506 - Membership - (a) The Authority consists of the following nine members: (1)...
Section 5-507 - Officers - (a) The Authority shall elect a chair, vice chair, and...
Section 5-508 - Quorum; Meetings; Reimbursement for Expenses; Staff - (a) (1) Four members of the Authority are a quorum....
Section 5-509 - Executive Director - (a) (1) The Executive Director is the chief administrative officer...
Section 5-510 - Conflicts of Interest - A member of the Authority may not participate in any...
Section 5-511 - Administration of Programs; Contracts; Private Corporation - (a) In this section, “Authority staff” means any of the...
Section 5-512 - Powers and Duties - (a) The Authority exercises its powers and performs its duties...
Section 5-513 - Service of Process - (a) In any action, service of process on the Authority...
Section 5-514 - Certain Receipts Payable - (a) Notwithstanding § 10–469(e) and (f) of this article or...
Part III - Small Business Development Contract Financing Fund
Section 5-517 - "Fund" Defined - In this part, “Fund” means the Small Business Development Contract...
Section 5-518 - Established - There is a Small Business Development Contract Financing Fund.
Section 5-519 - Purpose - The Authority shall use the Fund to implement this part.
Section 5-520 - Administration - The Authority shall administer the Fund.
Section 5-521 - Status; Investment; Payment - (a) The Fund is a special, nonlapsing fund that is...
Section 5-522 - Composition - The Fund consists of: (1) premiums for guaranteeing loans under...
Section 5-523 - Additional Money - (a) If the Authority and the Secretary determine that more...
Section 5-524 - Uses - The Authority may use the Fund for: (1) loan guaranties...
Section 5-525 - Financial Assistance -- Conditions - (a) (1) The Authority may use the Fund to guarantee...
Section 5-526 - Financial Assistance -- Applicants - (a) If the applicant is an individual, to qualify for...
Section 5-527 - Financial Assistance -- Application Procedures - (a) To apply for financial assistance from the Fund under...
Section 5-528 - Financial Assistance -- Terms - (a) The Authority may set the terms and conditions for...
Section 5-529 - Annual Report - The Treasurer shall report each year to the Authority on:...
Section 5-530 - Prohibited Acts -- Penalty - (a) A person may not knowingly make or cause to...
Part IV - Small Business Development Guaranty Fund
Section 5-533 - "Fund" Defined - In this part, “Fund” means the Small Business Development Guaranty...
Section 5-534 - Established - There is a Small Business Development Guaranty Fund.
Section 5-535 - Purpose - The Authority shall use the Fund to implement this part.
Section 5-536 - Administration - The Authority shall administer the Fund.
Section 5-537 - Status; Investment; Payment - (a) The Fund is a special, nonlapsing fund that is...
Section 5-538 - Composition - The Fund consists of: (1) loans and grants from the...
Section 5-539 - Uses - The Authority may use the Fund for: (1) guaranty payments...
Section 5-540 - Financial Assistance -- Conditions - (a) (1) The Authority may use the Fund to guarantee...
Section 5-541 - Financial Assistance -- Qualifications of Applicants - (a) If the applicant is a sole proprietor, to qualify...
Section 5-542 - Financial Assistance -- Application Procedures - (a) To apply for financial assistance from the Fund, a...
Section 5-543 - Financial Assistance -- Terms - A guaranty shall contain terms and conditions that the Authority...
Section 5-544 - Annual Report - The Treasurer shall report each year to the Authority on:...
Section 5-545 - Prohibited Acts; Penalty - (a) A person may not knowingly make or cause to...
Section 5-546 - Violation of Loan Documents; Noncompliance With Part - If an applicant or financial institution violates any provision of...
Part V - Equity Participation Investment Program
Section 5-549 - Definitions - (a) In this part the following words have the meanings...
Section 5-550 - Legislative Findings; Purposes - (a) The General Assembly finds that: (1) small businesses have...
Section 5-551 - Established - There is an Equity Participation Investment Program in the Department.
Section 5-552 - Administration - The Authority shall administer the Program.
Section 5-553 - Powers - The Authority may: (1) provide equity participation financing to help...
Section 5-554 - Equity Participation Investment Program Fund -- Established - There is an Equity Participation Investment Program Fund.
Section 5-555 - Fund -- in General - (a) The Authority shall administer the Fund. (b) (1) The...
Section 5-556 - Application for Financing - (a) The Authority may provide equity participation financing under the...
Section 5-557 - Requirements for Financing - (a) (1) Under the Program the Authority may not: (i)...
Section 5-558 - Limitation on Liability of State - The liability of the State and of the Authority in...
Section 5-559 - Conversion of Coronavirus Pandemic Financing - (a) This section applies to financing provided under the Program...
Part VI - Small Business Surety Bond Program
Section 5-561 - Definitions - (a) In this part the following words have the meanings...
Section 5-562 - Established - There is a Small Business Surety Bond Fund.
Section 5-563 - Status; Investments - (a) (1) The Fund is a special, nonlapsing fund that...
Section 5-564 - Composition - The Fund consists of: (1) money the State appropriates to...
Section 5-565 - Uses - The Fund shall be used: (1) for the purposes described...
Section 5-566 - Powers of Authority -- in General - In administering the Program, the Authority may: (1) use the...
Section 5-567 - Powers of Authority -- Program - The Authority may: (1) prescribe or approve the form of...
Section 5-568 - Surety -- Authority as Guarantor - (a) The Authority may guarantee a surety up to the...
Section 5-569 - Surety -- Authority as Surety - (a) The Authority may execute and perform a bid bond,...
Section 5-570 - Economic Impact of Contract - (a) The Authority may only approve a guaranty or a...
Section 5-571 - Surety Bonding Line Authorized - The Authority may establish a surety bonding line to issue...
Section 5-572 - Qualifications of Principal; Bond Requirements - (a) To qualify for financial assistance under this part the...
Section 5-573 - Application - (a) To apply for financial assistance from the Program under...
Section 5-574 - Premiums and Fees - (a) In its sole discretion, the Authority may set: (1)...
Section 5-575 - Prohibited Acts; Penalty - (a) A person may not knowingly make or cause to...