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2019 Hawaii Revised Statutes
TITLE 13. PLANNING AND ECONOMIC DEVELOPMENT
206M. High Technology Development Corporation
206M-70 Limitations on debt owed to the development corporation.
Universal Citation: HI Rev Stat § 206M-70 (2019)
§206M-70 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. [L 2019, c 56, pt of §2]
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