As used in this article, the term: “Board” means the Board of Regents of the University System of Georgia. “Center” means the Advanced Technology Development Center created by the board and acknowledged and empowered to administer the fund by Article III, Section IX, Paragraph VI(g) of the Constitution of Georgia. “Enterprise” means a corporation, partnership, […]
There is created the Seed-Capital Fund to be managed by the center under the authority of the board. History. Code 1981, § 10-10-2 , enacted by Ga. L. 1989, p. 1674, § 1; Ga. L. 2000, p. 473, § 1; Ga. L. 2004, p. 431, § 1. Editor’s notes. Ga. L. 2004, p. 431, § […]
The fund is created as a separate fund maintained by the board or a body designated by the board and shall be expended only as provided in this article. Pending their use as equity contributions or as loans, the moneys in the fund may be invested and reinvested in accordance with the investment policies authorized […]
The center, subject to the approval of the board or its designee, may authorize transfers from the fund to make equity contributions through the direct purchase of qualified securities of enterprises, subject to the center assuring itself that the following conditions will be satisfied: At least $3.00 of equity contributions has been committed in writing […]
The center, subject to the approval of the board or its designee, may authorize transfers from the fund to make unsecured or secured loans. With respect to such loans, the center, acting on behalf of the state and the fund, shall have the authority to sell loans, mortgages, security interests, and other obligations held by […]
All distributions made by an investment entity allocable to the state’s limited partner interest or membership interest therein; all cash proceeds with respect to any loan, whether interest, the repayment of principal, or other amounts; or proceeds of the sale or transfer of qualified securities held directly by the fund shall be deposited in the […]
The center, on behalf of the board, shall publish in print or electronically an annual report which shall be made available to the Governor, the General Assembly, the Department of Economic Development or any successor agency, the chairperson of the House Committee on Economic Development and Tourism, the chairperson of the Senate Economic Development Committee, […]
