17-6-408. Certification of microbusiness development corporations. The department may certify:
     (1) a microbusiness development corporation when it determines that the corporation:
     (a) has developed a viable plan for providing training, access to financing, and technical assistance for qualified microbusinesses;
     (b) has broad-based community support in a designated multicounty region of the state, as reflected, for example, by the membership of its board of directors; and
     (c) has an adequate source of operating capital; or
     (2) a statewide microbusiness development corporation when the department determines that the corporation meets the conditions under subsections (1)(a) and (1)(c) and, in addition:
     (a) has a viable plan to provide specialized services to constituents throughout the state or within at least four Indian reservations in Montana; and
     (b) does not preempt or duplicate efforts of microbusiness development corporations within local communities.

     History: En. Sec. 6, Ch. 602, L. 1991; amd. Sec. 3, Ch. 88, L. 1993; amd. Sec. 11, Ch. 512, L. 1999.