Subject to this subpart, the development corporation may invest in:

(1) A certified development company under sections 501 to 503 of the Small Business Investment Act of 1958 (15 U.S.C. § 695 to 697) and the regulations adopted under those sections;
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Terms Used In Hawaii Revised Statutes 206M-78

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Enterprise: means a person with a place of business in Hawaii which is, or proposes to be, engaged in business in Hawaii; provided that the endeavor shall not be devoted to the sale of goods at retail, construction of housing, or tourism- related services. See Hawaii Revised Statutes 206M-1
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) A small business investment company under the Small Business Investment Act (15 U.S.C. § 631 to 634, 636 to 649) and the regulations adopted under those sections;
(3) A minority enterprise small business investment corporation or equivalent venture capital corporation;
(4) A similar entity that may leverage its capital under a federal program; or
(5) A venture capital fund or partnership.

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