New Mexico Statutes
Article 29 - Small Business Investment
Section 58-29-3 - Definitions.

As used in the Small Business Investment Act:
A. "board" means the corporation's board;
B. "cooperative agreement" means an agreement entered into by the corporation with a party that:
(1) has demonstrated the capability to provide business assistance to new and expanding businesses; and
(2) is primarily engaged or proposes to primarily engage in the business of providing business services and debt or equity capital to new and expanding businesses;
C. "corporation" means the small business investment corporation;
D. "debt investment" means direct or indirect loans or other debt obligations, the proceeds of which shall be used to:
(1) support the acquisition or development of land, buildings or infrastructure;
(2) create job opportunities; or
(3) otherwise enhance the economic development objectives of the state;
E. "equity investment" means direct or indirect ownership interests in New Mexico businesses, the proceeds of which investment shall be used to:
(1) support the acquisition or development of land, buildings or infrastructure;
(2) create job opportunities; or
(3) otherwise enhance the economic development objectives of the state;
F. "fund" means the small business investment corporation fund;
G. "New Mexico business" means a business with its principal office and a majority of its full-time employees located in New Mexico, including a sole proprietorship, partnership, limited partnership, limited liability company or corporation; and
H. "president" means the president of the corporation.
History: Laws 2000, ch. 97, § 5; 2003, ch. 399, § 6; 2004, ch. 57, § 2.
The 2004 amendment, effective May 19, 2004, added new Subsection B, redesignated the following subsections and amended Subsection G to delete the requirement that a New Mexico business have eighty percent of its assets located in New Mexico and to make other minor revisions.
The 2003 amendment, effective April 8, 2003, added present Subsections C, D, E and F and redesignated former Subsection C as present Subsection G.

Structure New Mexico Statutes