32-11-304. Records and report requirements
32-11-304. Records and report requirements. (1) A licensee shall make and keep books, accounts, and other records in the form and manner, at the place, and for the period of time that the department establishes. (2) A licensee, an affiliate of a licensee, and a subsidiary of a licensee shall file with the department the reports that […]
32-11-215. Board of directors
32-11-215. Board of directors. (1) The board of directors of a licensee must have at least seven directors. (2) The board of directors shall hold at least one meeting each calendar quarter. History: En. Sec. 13, Ch. 411, L. 2007.
32-11-305. Records kept by others
32-11-305. Records kept by others. (1) If a person other than a licensee makes or keeps all or part of the books, accounts, or other records of the licensee, this chapter applies to the person with respect to the books, accounts, and other records to the same extent as if the person were the licensee. (2) If […]
32-11-216. Notice of officer and director changes
32-11-216. Notice of officer and director changes. Within 30 days after each of the following events, the licensee shall notify the department in writing of the event and provide any additional information that the department requires: (1) the death, resignation, or removal of a director or officer; (2) the election of a director; or (3) the appointment of an […]
32-11-306. Information on economic development effect
32-11-306. Information on economic development effect. Each year in which a person is licensed under this chapter, the department shall publish and provide a report to the legislature in accordance with 5-11-210 on the effect of this chapter on promoting economic development in the state. The information must include aggregate statistics on: (1) the number and dollar […]
32-11-217. Business of licensee — general powers
32-11-217. Business of licensee — general powers. (1) A licensee may not engage in a business other than providing financing assistance and management assistance to businesses. (2) In addition to the other powers provided by this chapter and the powers conferred on the licensee by the laws under which it is incorporated that are not inconsistent with […]
32-11-307. Examination of licensees and subsidiaries
32-11-307. Examination of licensees and subsidiaries. (1) The department may at any time examine a licensee or an affiliate or subsidiary of a licensee. Licensure under this chapter constitutes implied consent to examination by the department. (2) The department shall examine a licensee at least once during each calendar year. (3) At the department’s request, the following persons […]
32-11-218. Financing assistance allowed — forms, terms, conditions
32-11-218. Financing assistance allowed — forms, terms, conditions. (1) The financing assistance that a licensee may provide includes: (a) loans; (b) purchase of debt instruments; (c) straight equity investments including the purchase of common stock or preferred stock; (d) debt with equity features, including warrants to purchase stock, convertible debentures, or receipt of a percentage of net income or sales; […]
32-11-219. Participation in government programs
32-11-219. Participation in government programs. (1) A licensee may participate in a federal, state, or local government program for which the licensee is eligible and that has as the program’s function the provision or facilitation of financing assistance or management assistance to businesses. (2) If a licensee participates in a program referred to in subsection (1), the […]
32-11-220. Scope of management assistance
32-11-220. Scope of management assistance. When providing management assistance, a licensee may provide management advice, management services, technical advice, and technical services. History: En. Sec. 21, Ch. 411, L. 2007.