95-592 C.M.R. ch. 701, § 7 - DELEGATOIN OF APPLICATION REVIEW TO SUBCOMMITTEE

Current through 2022-14, April 6, 2022

A. Affirmative action by the Board is necessary to delegate to a subcommittee authority to review applications or authority to negotiate and agree to terms of an approved investment within designated parameters set by the Board.
B. Each subcommittee shall be composed of 1 or more members, except that a subcommittee with delegated authority to negotiate or approve a portfolio company investment shall have at least 3 members.
C. Each decision of a subcommittee must be approved by a majority of all members of the subcommittee.
D. Subcommittees may meet and take action by means of teleconference.

Notes

95-592 C.M.R. ch. 701, § 7

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