As Amended
SEC. 57-77-21. Reports by Magnolia Capital Corporation.
Magnolia Capital Corporation shall submit the following reports to the department:
(a) An annual audit of loan funds received in connection with the program;
(b) An annual report each year describing all venture capital assistance provided to businesses by Magnolia Venture Capital Corporation and the fund, such reports to include at least the following: a description of the business receiving assistance, the project to be assisted and the purpose of such assistance; a description of each loan and equity investment, including the terms and conditions thereof and use of the venture fund's assistance by the business; history of the assistance pool, including amounts expended for administration and management, principal amount of equity investments, losses, loans and other relevant data.
SOURCES: Laws, 1994, ch. 650, Sec. 12, eff from and after passage (approved April 8, 1994)