§ 58-29-3. Definitions

As used in the Small Business Investment Act: A. “ board ” means the corporation's board; B. “ cooperative agreement ” means an agreement entered into by the corporation with a party that: (1) has demonstrated the capability to provide business assistance to new and expanding businesses; and (2) is primarily engaged or proposes to primarily engage in the business of providing business services and debt or equity capital to new and expanding businesses; C. “ corporation ” means the small business investment corporation; D. “ debt investment ” means direct or indirect loans or other debt obligations, the proceeds of which shall be used to: (1) support the acquisition or development of land, buildings or infrastructure; (2) create job opportunities; or (3) otherwise enhance the economic development objectives of the state; E. “ equity investment ” means direct or indirect ownership interests in New Mexico businesses, the proceeds of which investment shall be used to: (1) support the acquisition or development of land, buildings or infrastructure; (2) create job opportunities; or (3) otherwise enhance the economic development objectives of the state; F. “ fund ” means the small business investment corporation fund; G. “ New Mexico business ” means a business with its principal office and a majority of its full-time employees located in New Mexico, including a sole proprietorship, partnership, limited partnership, limited liability company or corporation; and H. “ president ” means the president of the corporation.