La. Admin. Code tit. 19 § VII-8911
Current through Register Vol. 50, No. 11, November 20, 2024
Section VII-8911 - InvestmentsA. A qualified or eligible fund may receive an investment equal to $1 of LEDC funds for each $1 of funds privately raised by the applicant fund. The maximum total dollar amount of an LEDC investment in an eligible fund shall not exceed $5,000,000. Subject to availability of SSBCI funding and associated allocation to this program.B. The method of LEDC's investment into the qualified or eligible fund or investment will be equal to the method of investment of the other investors into that fund, i.e., committed capital for committed capital, cash investment for cash investment, or cash and commitment for cash and commitment.C. A qualified or eligible fund may charge for services as allowed by the U.S. Treasury.D. Investment funds may be used for out of state investments, after approval by LED.E. Investment funds must make investment in accordance to U.S. Treasury guidelines.F. Prior to the disbursement of funds, the secretarytreasurer of LEDC and any one of the following: either the chairman of the board, the president, or the president's designee, shall execute all necessary legal instruments after certification that all appropriate legal requirements have been met.La. Admin. Code tit. 19, § VII-8911
Promulgated by the Department of Economic Development, Office of Business Development and the Louisiana Economic Development Corporation, LR 481489 (6/1/2022).AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104, 36:108 and 51:2312