Magnolia Capital Corporation shall submit the following reports to the department:
An annual audit of loan funds received in connection with the program;
Quarterly reports describing all venture capital assistance provided to businesses by Magnolia Venture Capital Corporation and the fund, such reports to include at least the following: a description of the business receiving assistance, the project to be assisted and the purpose of such assistance; a description of each loan and equity investment, including the terms and conditions thereof and use of the venture fund's assistance by the business; history of the assistance pool, including amounts expended for administration and management, principal amount of equity investments, losses, loans and other relevant data.
Structure Mississippi Code
Title 57 - Planning, Research and Development
Chapter 77 - Venture Capital Act of 1994
§ 57-77-3. Purpose of chapter; entities as instrumentalities of the state; sovereign immunity
§ 57-77-7. Taxpayer entitlement to credit against state tax liability
§ 57-77-13. Exemption from taxation and license fees of Magnolia Venture Capital Corporation
§ 57-77-15. Magnolia Capital Corporation to apply to department for loan
§ 57-77-17. Terms and conditions of loan to Magnolia Capital Corporation
§ 57-77-19. Assistance of Magnolia Capital Corporation with program compliance
§ 57-77-21. Reports by Magnolia Capital Corporation
§ 57-77-23. Authority of corporations to engage professional services
§ 57-77-27. Certification of nondiscrimination as condition to assistance to business