Acceptance of federal and private grant funds.

Miss. Code Ann. § 57-10-133
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
The committee is hereby authorized and empowered to accept federal and private grant funds and to use same for all purposes. The committee may use any such federal or private grant funds to establish a supplemental loan guaranty fund with the state treasury and may make additional loan guaranties on the basis of such fund; provided that the aggregate amount of such additional loan guaranties shall not at any time exceed five (5) times the amount on deposit in such supplemental loan guaranty fund; provided further, that the aggregate of the liability for such supplemental loan guaranty fund and the liability authorized by Section 57-10-115(3) shall not exceed seventeen million five hundred thousand dollars ($17,500,000.00) at any one (1) time.

Starting a business in Mississippi? Mississippi LLC guide: costs and requirements