(30 ILCS 750/9-5.3)
Equity intermediary agreements.
(a) The Department is authorized to exercise its powers and
duties set forth
in this Article through equity intermediary agreements to assist young, high
risk, technology based firms, including business start-ups.
(b) An equity intermediary agreement may include seed financing or
capitalization of one or more equity investment pools managed by a financial
intermediary, provided that the assistance is used for investing in third
(c) The Department is authorized to rely upon the financial intermediary to
determine the portion of the equity investment requirements of the third party
recipient to be financed and upon the documentation and analysis standards of
intermediary instead of the requirements of subsection (b) of Section 9-5.1,
that other organizations have contributed substantially to the capitalization
of the equity pool.
(Source: P.A. 88-422.)