(A) The authority has the power to establish guidelines and regulations and make any contract (including without limitation any designated investor contract), execute any document, perform any act, or enter into any financial or other transaction necessary to implement this chapter.
(B) In furtherance of subsection (A) above, the authority, or the Department of Commerce on its behalf, as the case may be, may employ any person as may be required for:
(1) proper implementation of this chapter;
(2) the management of its assets; or
(3) the performance of any function authorized or required by this chapter or necessary for the accomplishment of any function.
(C) The provisions of Title 11, Chapter 35 do not apply to any transaction necessary to implement this chapter.
HISTORY: 2004 Act No. 187, Section 5; 2005 Act No. 125, Section 1.
Structure South Carolina Code of Laws
Chapter 45 - Venture Capital Investment Act Of South Carolina
Section 11-45-10. Short title.
Section 11-45-20. Legislative intent.
Section 11-45-30. Definitions.
Section 11-45-55. Tax credit certificates.
Section 11-45-60. Selection of investment plans.
Section 11-45-70. Venture capital investment requirements.
Section 11-45-80. South Carolina Technology Innovation Fund established; purposes.
Section 11-45-90. Reports by investor groups to Venture Capital Authority; contents.
Section 11-45-95. Reports by authority; contents.
Section 11-45-100. Power of authority to implement chapter; employment of persons.