105.687. Definitions.
Definitions.
105.687. As used in sections 105.687 to 105.689, thefollowing terms mean:
(1) "Equity interests", limited partnership interests andother interests in which the liability of the investor islimited to the amount of the investment, but does not includegeneral partnership interests or other interests involvinggeneral liability of the investor;
(2) "Invest" or "investment", utilization of money in theexpectation of future returns in the form of income or capitalgain;
(3) "Investment fiduciary", a person who either exercisesany discretionary authority or control in the investment of apublic employee retirement system's assets or who renders for afee advice for a public employment retirement system;
(4) "Small business", an independently owned and operatedbusiness as defined in Title 15 U.S.C. Section 632A and asdescribed by Title 13 CFR Part 121*;
(5) "Small business investment company", an incorporatedbody or a limited partnership under Section 301 of Title III ofthe Small Business Investment Act of 1958, 15 U.S.C. 681;
(6) "System", a public employee retirement systemestablished by the state or any political subdivision of thestate;
(7) "Venture capital firm", a corporation, partnership,proprietorship, or other entity, the principal businesses ofwhich is the making of investments in small businesses, eitherdirectly or indirectly by investing in entities the principalbusiness of which is the making of investments in smallbusinesses.
(L. 1987 S.B. 20 § 1)*Original rolls contain "21", an apparent typographical error.