Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 319 - MAINE ECONOMIC DEVELOPMENT VENTURE CAPITAL REVOLVING INVESTMENT PROGRAM
Section 457-319-3 - Application Procedures

Universal Citation: 94 ME Code Rules ยง 457-319-3

Current through 2024-13, March 27, 2024

A. A qualifying investment fund seeking an investment shall submit an application which complies with the requirements of this rule on such forms as may be required by the chief executive officer.

B. The chief executive officer shall be responsible for making application forms available.

C. No application will be considered complete unless substantially all questions are answered and all supporting information is provided.

D. The application shall include general information identifying and describing the qualifying investment fund, including:

1. Its sources of funds;

2. The region it serves;

3. Its methods and criteria for qualifying investments, including targeted investing and economic development strategy;

4. Its expertise in investing in small and emerging businesses;

5. How it will leverage funds from sources other than the authority's investment.

6. Evidence of compliance with each of the eligibility criteria set forth in section 4.

E. The qualifying investment fund must include a copy of its most recent offering statement and standard subscription agreement with its application.

F. The qualifying investment fund must certify that it is in compliance with all federal and State laws, including securities laws and regulations.

G. The principals of the qualifying investment fund may be required to make a presentation to the members of the authority on any aspect of their application and such other matters as the authority may request.

H. The application shall also include such additional information and documentation as the chief executive officer may require.

Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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