Text: SSB02022 Text: SSB02024 Text: SSB02000 - SSB02099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 15E.134, subsection 8, Code 1997, is
1 2 amended to read as follows:
1 3 8. To do all acts and things necessary or convenient to
1 4 carry out the powers expressly granted in this division and
1 5 such other powers not in conflict with this division granted
1 6 under chapter 490, including the power and authority to sell
1 7 any and all of the stock or ownership interest of any
1 8 corporation formed pursuant to this division notwithstanding
1 9 any contrary provisions or restrictions of this division.
1 10 EXPLANATION
1 11 The business development finance corporation, created
1 12 pursuant to Code chapter 15E, division 13, provides economic
1 13 assistance to businesses in the form of letters of credit or
1 14 guarantees, equity financing, loans, and underwriting of
1 15 public offerings. The corporation can also request royalty,
1 16 equity ownership, or fees as a condition of providing
1 17 assistance, make contracts and incur liabilities, borrow money
1 18 and issue its bonds, enter into lending arrangements with
1 19 state and federal agencies or instrumentalities which allow
1 20 the corporation to participate in lending operations or secure
1 21 guarantees or qualify for further lending programs, and accept
1 22 broker deposits from financial institutions.
1 23 This bill provides the business development finance
1 24 corporation with the power and authority to sell any stock or
1 25 ownership interest of any corporation formed under Code
1 26 chapter 15E, division 13.
1 27 LSB 3311DP 77
1 28 tm/jw/5
Text: SSB02022 Text: SSB02024 Text: SSB02000 - SSB02099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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