(a) A purchaser or affiliate may not directly or indirectly: (1) manage a venture firm; (2) beneficially own, through rights, options, convertible interests, or otherwise, more than 15% of the voting securities or other voting ownership interest of a venture firm; or (3) control the direction of investments for a venture firm. (b) Subsection (a) of this section applies whether or not the purchaser or affiliate is authorized to do business in the State.
Maryland Legal Code