1. A. In General. Except as provided in §§B and C of this regulation, TEDCO shall select businesses for investment by the Seed Funds in accordance with the application process set forth in COMAR 14.04.02.

2. B. Reapplication after Initial Rejection. If TEDCO rejects a business for investment by the Seed Funds after the business submits a first application to TEDCO, the business may re-apply to TEDCO upon the later of:

   1. (1) 90 days after the date on which TEDCO issues a written rejection to the business; or
   2. (2) The business’s consultation with TEDCO’s advisory services, if required by TEDCO, and satisfaction of any recommendations by TEDCO.

3. C. Reapplication after Subsequent Rejection. If TEDCO rejects a business for investment by the Seed Funds any time after the business submits a second application to TEDCO, the business may re-apply to TEDCO upon the later of:

   1. (1) 180 days after the date on which TEDCO issues a written rejection to the business; or
   2. (2) The business’s consultation with TEDCO’s advisory services, if required by TEDCO, and satisfaction of any recommendations by TEDCO.

Authority: Economic Development Article, §10-409, Annotated Code of Maryland

Effective date: December 30, 2019 (46:26 Md. R. 1167)

Regulation .05B amended effective February 21, 2022 (49:4 Md. R. 302); January 20, 2025 (52:1 Md. R. 19)