§ 10-10-11. Definitions
As used in this article, the term: “Affiliate” means: A person who, directly or indirectly, beneficially owns, controls, or holds power to vote any outstanding voting securities or other voting ownership interests of a venture capital firm; or A person whose outstanding voting securities or other voting ownership interests are directly or indirectly beneficially owned, […]
§ 10-10-1. Definitions
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, […]
§ 10-10-2. Creation of Seed-Capital Fund
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, § […]
§ 10-10-3. Moneys in the Fund to Be Handled in Accordance With Policies Authorized by the Board
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 […]
§ 10-10-4. Investing of Funds With Investment Entities
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 […]
§ 10-10-5. Transfer of Funds for Making Loans
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 […]
§ 10-10-6. Distribution to Be Deposited in the Fund
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 […]
§ 10-10-7. Publishing of Annual Report by Center
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, […]