53H-16-201. General provisions -- Definitions.
As used in this part:
(1) "Executive director" means the executive director of the institute appointed under Section. 53H-16-304
(2) "Institute board" means the board of directors of the Nucleus Institute as described in Section. 53H-16-302
(3) "Investment committee" means the investment committee of the Nucleus Fund created in Section. 53H-16-403
(4) "Nucleus Fund" means a limited liability company organized under Section. 53H-16-402
(5) "Nucleus Institute" or "institute" means the Nucleus Institute created in Section. 53H-16-202
(6) "Qualified business" means a business entity that: is established to commercialize a technology, product, or service developed in partnership with a technology commercialization program at a public institution or private postsecondary educational institution in the state; and maintains the business's principal business operations in the state.
(7) "Qualified investment" means any distribution or payment of funds to a qualified business from the Nucleus Fund, including: a direct investment of capital in a qualified business for the purchase of shares of stock; a secured loan or revolving line of credit to a qualified business; or a financial grant to a qualified business.