63N-4-306. Request for determination.
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Effective 5/9/2017
63N-4-306. Request for determination.
(1)A rural investment company, before making a growth investment, may request from the office a written opinion as to whether the business in which a rural investment company proposes to invest is an eligible small business.
(2)The office shall notify the rural investment company of the office's determination within 30 days after receipt of the request.
(3)If the office fails to notify the rural investment company of the office's determination in accordance with this section, the business in which the rural investment company proposes to invest shall be considered an eligible small business.
Enacted by Chapter 274 , 2017 General Session