New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4254 - NEW YORK STATE INNOVATION VENTURE CAPITAL FUND
Section 4254.6 - Fees and Costs

(a) The corporation may negotiate reasonable management fees, promotes (e.g., distributions when certain financial return benchmarks are achieved such as internal rate of return, return on investment, return on earnings, etc.), share of return and other fees and charges with respect to applicants, beneficiary companies, investment entities and investment professionals and firms. The costs and expenses of the corporation for its implementation and administration of the fund shall be paid from fund monies or such other monies that shall be available to the corporation.

(b) The corporation may also impose fees, including without limitation, application fees, processing fees, fees in connection with processing and evaluation of submissions in response to requests for proposals or other types of solicitations, fees for due diligence with respect to investments and prospective investments, administrative fees, legal, accounting, and other out-of-pocket fees and expenses of the corporation, costs and expenses for compliance with applicable laws and regulations, including environmental review and State and Federal securities laws.