0500-08-01-.06
Notice Following Material Adverse Change
Cite as Tenn. Comp. R. & Regs. 0500-08-01-.06
(1)
In the event of a Material Adverse Change in a Qualified Business, each TNInvestco with an
ownership interest shall provide written notice to ECD within ten (10) Days after the
TNInvestco receives notice of, or its Principal Officer has actual knowledge of, the Material
Adverse Change. The written notice required by this rule shall include documentation
explaining the circumstances of the Material Adverse Change.
(2)
In the event of noncompliance with this rule, a penalty of $1,000 per Day shall be assessed
until the noncompliance is cured.