Haw. Code R. § 15-127-18 - Application procedures
(a) The corporation
may solicit proposals for financing, advertise, accept referrals or unsolicited
proposals as the board deems appropriate. The board may require submission of
business plans in the case of enterprises or a statement of investment
philosophy and performance record in the case of seed and venture financing
organizations.
(b) The board shall
approve or disapprove requests for assistance within ninety days of receiving a
complete written application. Upon written request by an applicant, the board
may reconsider its denial of an application for assistance or may waive the
ninety-day deadline for approving or disapproving an application.
(c) Any person who submits any statement,
report, application, or other document to the corporation which is known to the
person to be false in any material respect shall be guilty of a class C
felony.
(d) The corporation may
condition any assistance of any type by placing restrictions on the recipients
in regard to the recipient's assets or indebtedness or in any other manner
deemed appropriate by the corporation. A recipient who accepts assistance from
the corporation shall be deemed to agree to be bound by any conditions or
restrictions imposed by the corporation.
Notes
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