Oregon Statutes 293.733 – Venture capital investments; councils duty
(1) In making and implementing investment decisions related to venture capital, the Oregon Investment Council and the investment officer have a duty to look first at Oregon opportunities for diversification unless, under the circumstances, it is not prudent to do so.
Terms Used In Oregon Statutes 293.733
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) At any given time, the council shall have at least $100 million in venture capital investments in Oregon unless, under the circumstances, it is not prudent to do so.
(3) As used in this section:
(a) ‘Emerging growth business’ means an individual or group of individuals or a new or small company, including but not limited to any new or small partnership, limited liability company, corporation, firm, association or other business entity, that has the capacity, upon obtaining appropriate capital, to generate significant high-skill, high-wage employment.
(b) ‘Venture capital’ includes but is not limited to emerging growth businesses. [2003 c.606 § 3; 2012 c.90 § 23]
293.733 was added to and made a part of 293.701 to 293.857 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.