As used in this part, unless the context otherwise requires:
1. "Contributor" means a private entity which commits to contribute money to a development corporation, organized under chapter 504A, upon the call of the corporation.
2. "Corporation" or "development corporation" means a private sector small business economic development corporation organized under chapter 504A or organized for pecuniary profit under chapter 490 and includes development corporations organized under chapter 496B.
3. "Fund" means the private sector small business economic development corporation fund established under section 15.263.
4. "Investor" means a private entity which invests money in a corporation organized for pecuniary profit under chapter 490.
5. "Region" means a private sector small business economic development region.
6. "Small business" means an enterprise located in this state, except an enterprise organized to practice a profession, as defined in section 496C.2, which is operated for profit and under a single management, and has fewer than twenty employees or an average annual gross income of less than three million dollars over the last three years.
87 Acts, ch 106, §3; 90 Acts, ch 1205, §1
Referred to in § 15.108
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