§ 228-a. Establishment. 1. A small business investment company to be known as the “New York small business investment company,” shall be organized under the business corporation law and operated so as to qualify for licensing under Section 301(c) and applicable regulations. A specialized small business investment company to be known as the “New York […]
§ 228-b. Definitions. As used in this article, the following terms and abbreviations shall have the meanings indicated: 1. “NYSBIC” means the New York small business investment company which shall be organized and operated in conformity with Section 301(c) and applicable regulations. 2. “NYSSBIC” means the New York specialized small business investment company which shall […]
§ 228-c. Purposes, powers and operation. 1. (a) The purposes of the NYSBIC shall be to serve the needs of the small business community in the state of New York. The NYSBIC shall direct its efforts towards providing small business with start-up, venture, operating or working capital, particularly where general economic and historical conditions, such […]
§ 228-d. New York small business investment company; board of directors. 1. The corporate powers of the New York small business investment companies shall be exercised by a board of directors, which shall consist of thirty persons, all of whom shall be of full age, citizens of the United States, and residents of this state. […]
§ 228-e. New York specialized small business investment company; board of directors. 1. The corporate powers of the New York specialized small business investment companies shall be exercised by a board of directors, which shall consist of thirty persons, all of whom shall be of full age, citizens of the United States, and residents of […]
§ 228-f. Reports. 1. The investment companies shall make an annual report of their conditions to the governor, the legislature and the superintendent of financial services, on or before January first of each year. 2. Commencing January first, nineteen hundred ninety-five, such annual report shall contain but not be limited to the following: (a) information […]
