South Carolina § 11-45-90 Reports by investor groups to Venture Capital Authority; contents.

South Carolina Statutes

§ 11-45-90 — Reports by investor groups to Venture Capital Authority; contents.

South Carolina·Title 11 PUBLIC FINANCE·Ch. 45 VENTURE CAPITAL INVESTMENT ACT OF SOUTH CAROLINA

Each designated investor group shall provide an annual report to the authority with that information as may be required by the authority, and which shall:

(1)include an annual audit of the activities conducted by the designated investor group;

(2)document and review the progress of the designated investor group in implementing its investment plan;

(3)list any use, redemption, or transfer of tax credits allowed under this chapter;

(4)include a schedule of the rates of return, net of total investment expense, on assets held by the designated investor group pursuant to this chapter overall and on those assets aggregated by category over the most recent one-year, three-year, five-year, and ten-year periods, to the extent available; and (5) include a schedule of the sum of total investment

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Each designated investor group shall provide an annual report to the authority with that information as may be required by the authority, and which shall: (1) include an annual audit of the activities conducted by the designated investor group; (2) document and review the progress of the designated investor group in implementing its investment plan; (3) list any use, redemption, or transfer of tax credits allowed under this chapter; (4) include a schedule of the rates of return, net of total investment expense, on assets held by the designated investor group pursuant to this chapter overall and on those assets aggregated by category over the most recent one-year, three-year, five-year, and ten-year periods, to the extent available; and (5) include a schedule of the sum of total investment expense and total general administrative expense for the fiscal year incurred and expressed as a percentage of the fair value of assets of the designated investor group held pursuant to this chapter on the last day of the fiscal year, and an equivalent percentage for the preceding five fiscal years, if applicable.

South Carolina § 11-45-90 (Reports by investor groups to Venture Capital Authority; contents.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.