1. (a) In this subtitle the following words have the meanings indicated.
2. (b) “Board” means the Board of Trustees of the Maryland Venture Capital Trust.
3. (c) “Investor” means a person or governmental entity that invests money in the Maryland Venture Capital Trust.

4. (d)

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

   2. (2) “Seed capital financing” includes financing for a business:

      1. (i) to finish research and development of a product;
      2. (ii) to develop marketing plans; and
      3. (iii) to provide for initial facilities, inventory, and working capital.
5. (e) “Trust” means the Maryland Venture Capital Trust.
6. (f) “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.

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.