HRS §206M-70
Limits on loans and investments the development corporation can make
This section sets caps on how much financial help the development corporation can give to one business at a time, and how much it can invest directly. The board can raise the investment limit with a two-thirds vote. It also excludes certain venture capital rights from these limits.
businessesdevelopers
The statute, as written — Limitations on debt owed to the development corporation
Not more than $5,000,000 in financial assistance, excluding rights and royalties under a venture capital agreement, shall be provided to any one enterprise at any time under this part. The direct investments of the development corporation shall not exceed five per cent of the assets of the development corporation, excluding rights and royalties under a venture capital agreement; provided that by a two-thirds vote of the board, this amount may be increased to a limit of twenty-five per cent of the total assets of the development corporation.
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