§ 10-475

Maryland § 10-475

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 10

Text

(a) To qualify for participation in the Program, a small business shall meet the criteria in this section.

(b) The small business shall:

(1) meet the qualifications of a qualified business; and

(2) have received a Phase I or Phase II small business innovation research award or small business technology transfer award during the 6 months immediately preceding the submission of its application under § 10–476 of this part.

(c) An award or investment recipient that fails to fulfill the eligibility and maintenance requirements of the Program may be required to return all or part of the award or investment, as well as any accrued interest or fees, to the Program.

(d) The Program shall require an award or investment recipient to return to the Fund any money from an award or investment under this part, as well as any accrued interest or fees, if the recipient does not remain a qualified business for at least 2 years after receiving the award or investment payment.