4-28-108 - Distributions from qualified TNInvestco. - Tennessee Statutes

4-28-108. Distributions from qualified TNInvestco.

Qualified distributions from a qualified TNInvestco may be made at any time. Distributions other than qualified distributions from a qualified TNInvestco may be paid out annually or upon designated liquidity events as established by the qualified TNInvestco. Any such distributions other than qualified distributions may not reduce the base investment amount during any calendar year. The profit share percentage shall be paid to the state in the same time and manner as all other distributions as provided in § 4-28-109. Any such payments shall be deposited into the general fund or the rural opportunity fund as provided in § 4-28-109. Investment capital liquidated during a liquidity event will be given a one-year redeployment period for purposes of calculating the investment thresholds in § 4-28-106.

[Acts 2009, ch. 610, § 9.]