(20 ILCS 3501/810-30)
Investment in Pools of Funds.
Proposals for the establishment
of pools of funds under paragraph (b) of
Section 810-20 of this Act shall be
submitted on a form, contain the information, and be accompanied by a fee as
prescribed by the Authority.
The Authority shall not enter into any agreement or contract under paragraph
(b) of Section 810-20 of this Act unless the agreement or contract provides
pool of funds will be invested in an enterprise only if the manager finds all
of the following:
(a) The enterprise has a reasonable chance of success.
(b) The technology, product, process, or invention for which the investment
being made is feasible and has the potential to achieve commercial success.
(c) The enterprise has the potential to create substantial employment within
(d) The entrepreneur, investors, shareholders, or founders of the enterprise
have made or are obligated to make a substantial commitment of time and funds
to the enterprise.
(e) The possible gains in the investment are at least commensurable with the
risk of loss and there is a reasonable possibility that the investors,
including the Authority, will recoup their investment within 10 years after the
investment, through the receipt of interest, dividends, capital gains, or other
distributions of profit or royalties.
(f) The enterprise shall have made binding commitments for adequate
reporting of and access to financing data of the enterprise.
(Source: P.A. 93-205, eff. 1-1-04.)