Regional Seed Money Corporation Act

[AI summary unavailable — showing source text] Regional Seed-Money Corporations Act - Creates regional seed-money corporations which will not be agencies of the Federal Government. Provides for the election of directors and officers of such corporations. Authorizes such corporations to issue and have outstanding, in such amounts as they shall determine, shares of capital stock which shall carry voting rights and be eligible for dividends. Authorizes the President to make loans, from funds authorized by this Act, to such a corporation not to exceed three times the private capital paid into such corporation. States that such corporation may: (1) provide necessary funding for the initiation of new business enterprises within the region served by the corporation and sets forth criteria which such applicants must meet; and (2) acquire not more than 49 percent of the ownership or voting shares in any single enterprise. Provides that such corporation shall conduct training classes in organizing new business ventures. Directs that corporations established under this Act shall be specified regions of the country. Authorizes the President to waive the application of those Federal laws, rules, and regultions applicable to corporations and…