Code of Maine Rules
95 - INDEPENDENT AGENCIES
592 - SMALL ENTERPRISE GROWTH BOARD
Chapter 701 - SMALL ENTERPRISE GROWTH PROGRAM
Section 592-701-7 - DELEGATOIN OF APPLICATION REVIEW TO SUBCOMMITTEE
Universal Citation: 95 ME Code Rules ยง 592-701-7
Current through 2024-13, March 27, 2024
A. Affirmative action by the Board is necessary to delegate to a subcommittee authority to review applications or authority to negotiate and agree to terms of an approved investment within designated parameters set by the Board.
B. Each subcommittee shall be composed of 1 or more members, except that a subcommittee with delegated authority to negotiate or approve a portfolio company investment shall have at least 3 members.
C. Each decision of a subcommittee must be approved by a majority of all members of the subcommittee.
D. Subcommittees may meet and take action by means of teleconference.
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