32-11-107. Confidentiality
32-11-107. Confidentiality. (1) The director and other employees of the department may not disclose information acquired by them in the discharge of their duties under this chapter except to the extent that disclosure of the information is required by law, other than the public records provisions of 2-6-1003, or is required by court order. (2) Notwithstanding subsection […]
32-11-108. Application of law under which licensee incorporated
32-11-108. Application of law under which licensee incorporated. Except as otherwise provided in this section, the provisions of the law under which a licensee is incorporated apply to the licensee. If a provision of the licensee’s incorporating law conflicts with a provision of this chapter, this chapter controls. History: En. Sec. 52, Ch. 411, L. 2007.
32-11-201. Application procedure
32-11-201. Application procedure. When applying for a license, an applicant shall provide the information required by the department in the form required by the department. The information must include: (1) information on the directors, officers, and controlling persons of the applicant; (2) the applicant’s business plan, including at least 10 years of detailed financial projections, and other relevant […]
32-11-202. Requisite net worth
32-11-202. Requisite net worth. (1) In order to receive a license, an applicant shall demonstrate to the satisfaction of the department that the applicant has raised sufficient capital so that: (a) the net worth of the BIDCO is expected to be adequate, in the context of its business plan, to support the BIDCO’s management team and to […]
32-11-101. Short title
32-11-101. Short title. This chapter may be cited as the “Business and Industrial Development Corporation Act”. History: En. Sec. 1, Ch. 411, L. 2007.
32-11-102. Definitions
32-11-102. Definitions. In this chapter, unless the context requires otherwise, the following definitions apply: (1) ”Affiliate”, if used with respect to a nonnatural person, means a person who controls the nonnatural person, who is controlled by the nonnatural person, or who is controlled by a person who also controls the nonnatural person. (2) ”Associate”, if used with respect […]
32-11-103. Purposes
32-11-103. Purposes. The purposes of this chapter are to: (1) promote economic development by encouraging the formation of one or more BIDCOs to help meet the financing assistance and management assistance needs of businesses in the state; (2) establish a system of licensing, regulation, and enforcement to enable a BIDCO to satisfy the eligibility requirements for participating in […]
32-11-104. Meetings of directors and shareholders called by department
32-11-104. Meetings of directors and shareholders called by department. (1) If the department considers it expedient, the department may call a meeting of the board of directors or of the shareholders of a licensee. (2) The department shall send notification of the time, place, and purpose of the meeting not less than 5 days before the meeting […]
32-10-503. Repealed
32-10-503. Repealed. Sec. 34, Ch. 321, L. 2009. History: En. Sec. 24, Ch. 369, L. 2007.
32-10-504. Repealed
32-10-504. Repealed. Sec. 34, Ch. 321, L. 2009. History: En. Sec. 25, Ch. 369, L. 2007.