- (1) In the event of a Material Adverse Change in a Qualified Business, each TNInvestco with an ownership interest shall provide written notice to ECD within ten (10) Days after the TNInvestco receives notice of, or its Principal Officer has actual knowledge of, the Material Adverse Change. The written notice required by this rule shall include documentation explaining the circumstances of the Material Adverse Change.
- (2) In the event of noncompliance with this rule, a penalty of $1,000 per Day shall be assessed until the noncompliance is cured.
Authority: T.C.A. §§ 4-28-102(11) and 4-28-111(d). Administrative History: New rule filed September 4, 2015; effective December 3, 2015.