Rhode Island Code of Regulations
Title 870 - Rhode Island Commerce Corporation
Chapter 30 - Tax Credits and Exemptions
Subchapter 00 - N/A
Part 8 - Rules and Regulations for the Rhode Island Small Business Development Fund
Section 870-RICR-30-00-8.13 - Request for Determination

A. A Small Business Development Fund, before making a Qualified Investment, may request from the Corporation a written opinion as to whether the business in which it is proposed to invest is an Eligible Business.

B. The Corporation may promulgate an application form in relation to a Request for Determination.

C. The Corporation, not later than the fifteenth business day after the date of receipt of a complete Request for Determination, shall notify the Small Business Development Fund of its determination. The date of receipt of a Request for Determination can only be a business day that the Corporation is open for business.

D. If the Corporation fails to notify the Small Business Development Fund by the fifteenth business day after receipt of a Request for Determination of either its rejection of the Request for Determination as being incomplete or its determination of eligibility by mailing a notice to the registered agent on file for such entity with the Secretary of State or to such other address as the Corporation may have in its records for such entity or via email to the email address provided by the Applicant in connection with its Application, the business in which the Small Business Development Fund proposes to invest shall be considered an Eligible Business.