Text: H05880 Text: H05882 Text: H05800 - H05899 Text: H Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN
1 1 Amend House File 2490 as follows:
1 2 #1. Page 1 by inserting after line 34 the
1 3 following:
1 4 "f. That the fund will not accept an investment
1 5 until it has received a disclosure signed by the
1 6 investor stating that the availability of state
1 7 funding for investment refunds is not guaranteed. The
1 8 disclosure shall be a separate document printed in
1 9 capital letters in ten point boldface type and shall
1 10 be in the following form:
1 11
1 12 DISCLOSURE REGARDING NONGUARANTEE OF REFUND
1 13
1 14 EARLY-PHASE, GROWTH-PHASE, AND MEZZANINE-PHASE
1 15 INVESTMENTS INHERENTLY INVOLVE A HIGH DEGREE OF RISK.
1 16 THE STATE OF IOWA HAS A PROGRAM TO ENCOURAGE PRIVATE
1 17 INVESTMENT IN THESE HIGH RISK VENTURES BY PROVIDING A
1 18 PARTIAL INVESTMENT REFUND UNDER CERTAIN CONDITIONS.
1 19 THE ELIGIBILITY OF YOUR INVESTMENT FOR AN
1 20 INVESTMENT REFUND IS NOT TIED TO THE YEAR YOU INVEST
1 21 IN THIS INVESTMENT ENTITY. ELIGIBILITY FOR A REFUND
1 22 IS DEPENDENT ON THE YEAR THIS INVESTMENT ENTITY
1 23 INVESTS YOUR FUNDS IN A QUALIFIED BUSINESS.
1 24 AVAILABILITY OF STATE FUNDS TO PAY INVESTMENT
1 25 REFUNDS IS SUBJECT TO A STANDING LIMITED
1 26 APPROPRIATION.
1 27 ONE LEGISLATURE CANNOT BIND THE ACTIONS OF A FUTURE
1 28 LEGISLATURE. A FUTURE LEGISLATURE COULD INCREASE THE
1 29 STANDING APPROPRIATION, DECREASE THE APPROPRIATION, OR
1 30 ELIMINATE THE APPROPRIATION ENTIRELY.
1 31 EACH YEAR, REFUND CLAIMS WILL BE PAID IN FULL IN
1 32 THE ORDER THAT THEY ARE RECEIVED. AFTER THE ENTIRE
1 33 APPROPRIATION HAS BEEN EXPENDED, ADDITIONAL REFUND
1 34 CLAIMS WILL NOT BE PAID. UNPAID REFUND CLAIMS CANNOT
1 35 BE CARRIED FORWARD TO FUTURE YEARS.
1 36 IF YOU HAVE QUESTIONS REGARDING THE AVAILABILITY OF
1 37 STATE FUNDS TO PAY INVESTMENT REFUNDS, YOU SHOULD
1 38 CONTACT THE IOWA SECURITIES BUREAU OF THE INSURANCE
1 39 DIVISION OF THE DEPARTMENT OF COMMERCE AT (current
1 40 address and phone number).
1 41
1 42 I HEREBY ACKNOWLEDGE RECEIPT OF THIS DISCLOSURE.
1 43
1 44
1 45 .......... ............................
1 46 DATE SIGNATURE".
1 47
1 48
1 49
1 50 WEIGEL of Chickasaw
2 1 HF 2490.505 76
2 2 mk/jw
Text: H05880 Text: H05882 Text: H05800 - H05899 Text: H Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
Search: House Bills and Amendments (76th General Assembly)
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Last update: Wed Apr 10 03:25:18 CDT 1996
URL: /DOCS/GA/76GA/Legislation/H/05800/H05881/960409.html
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