Section 57-77-21 - Reports by Magnolia Capital CorporationMagnolia Capital Corporation shall submit the following reports to the department:
(a) An annual audit of loan funds received in connection with the program;(b) Quarterly reports describing all venture capital assistance provided to businesses by Magnolia Venture Capital Corporation and the fund, such reports to include at least the following: a description of the business receiving assistance, the project to be assisted and the purpose of such assistance; a description of each loan and equity investment, including the terms and conditions thereof and use of the venture fund's assistance by the business; history of the assistance pool, including amounts expended for administration and management, principal amount of equity investments, losses, loans and other relevant data.Laws, 1994, ch. 650, § 12; Laws, 1998, ch. 563, § 7, eff. 4/17/1998.