Section 10-701 - Definitions. - Maryland Statutes

§ 10-701. Definitions.
 

(a)  In general.- In this subtitle the following words have the meanings indicated. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83A, § 5-301(a). 
 

The word "subtitle" is substituted for the former word "section" for accuracy. 

(b)  Board.- "Board" means the Board of Trustees of the Maryland Venture Capital Trust. 
   
Revisor's Note.

This subsection is new language added to avoid repetition of the full title of "the Board of Trustees of the Maryland Venture Capital Trust". 

(c)  Investor.- "Investor" means a person or governmental entity that invests money in the Maryland Venture Capital Trust. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83A, § 5-301(b). 
 

The reference to a "governmental" entity is substituted for the former reference to a "legal" entity because a governmental entity is the only legal entity not included in the defined term "person". See § 9-101 of this article. 
  Defined Terms.


 
"Person"                                                             § 9-101

(d)  Seed capital financing.-  

(1) "Seed capital financing" means financing provided to a business during the initial stages of its development. 

(2) "Seed capital financing" includes financing for a business: 

(i) to finish research and development of a product; 

(ii) to develop marketing plans; and 

(iii) to provide for initial facilities, inventory, and working capital. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83A, § 5-301(c). 
 

In paragraph (1) of this subsection and throughout this subtitle, the references to a "business" are substituted for the former references to a "business enterprise" for brevity. 

(e)  Trust.- "Trust" means the Maryland Venture Capital Trust. 
   
Revisor's Note.

This subsection formerly was Art. 83A, § 5-301(d). 
 

No changes are made. 

(f)  Venture capital fund.- "Venture capital fund" means an investment fund that provides capital to a business at any stage of its development before the business makes a public offering of stock. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83A, § 5-301(e). 
 

[An. Code 1957, art. 83A, § 5-301(a)-(e); 2008, ch. 306, § 2.]