§ 5-28-21-19 — Duties of sponsors or assistance recipients

A sponsor or an organization receiving
assistance through a sponsor has the following duties in establishing
and operating a small business incubator with assistance under this
chapter:
(1) Securing title to the facility or leasing the facility with the
intent to secure title.
(2) Managing the physical development of the incubator facility,
including the provision of common conference or meeting space.
(3) Furnishing and equipping the facility to provide business
services to the tenants.
(4) Marketing the facility and securing eligible tenants.
(5) Providing or arranging for the provision of financial
consulting, assistance in accessing private financial markets, and
marketing and management assistance services for the tenants.
(6) Establishing rental and service fees.
(7) Encouraging the sharing of ideas among tenants and aiding the
tenants in an innovative manner while they are within the
incubator.
(8) Establishing policies for the:
(A) acceptance of tenants into the incubator; and
(B) termination of occupancy by tenants.
(9) Encouraging the establishment of small business incubators
in economically disadvantaged areas. However, if the small
business incubator secures only a loan or loan guarantee under
this chapter, this subdivision does not limit the establishment of
the small business incubator to economically disadvantaged areas.
(10) Establishing a local advisory committee to assist in the
performance of the duties listed in this section. Advisory
committee members must represent fields that can contribute to
the sound operation of the incubator, such as accounting, finance,
law, education, and small business. Advisory committee members
may not vote on projects of sponsors or tenants with whom the
member is financially affiliated.

Legislative History

As added by P.L.4-2005, SEC.34.