Section 5: Operation; licensed small business investment corporation; establishment of subsidiary corporation
102 words·~1 min read·
/ma/part-i/title-vii/chapter-40g/5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5. The MTDC is hereby specifically authorized to operate as a licensed small business investment corporation under the provisions of the Small Business Investment Act of 1958, Public Law 85–699, as amended from time to time, if it can qualify thereunder and if the board shall determine that such operation would reasonably serve to carry out the purposes of the MTDC. In the alternative, the board shall be authorized, in its discretion, to establish a subsidiary corporation to operate as a licensed small business investment corporation under said Act, and to make investments in qualified securities of enterprises through such subsidiary.