A small business development fund, before making a qualified investment, may request from the corporation a written opinion as to whether the business in which it is proposed to invest is an eligible business. The corporation, not later than the fifteenth business day after the date of receipt of the request, shall notify the small business development fund of its determination. If the corporation fails to notify the small business development fund by the fifteenth business day of its determination, the business in which the small business development fund proposes to invest shall be considered an eligible business. History of Section.P.L. 2019, ch. 88, art. 12, § 10.
Rhode Island Legal Code