[§211F-10]  Confidentiality of trade secrets
or the like; disclosure of financial information.  Notwithstanding chapter
92, 92F, or any other law to the contrary, any documents or data made or
received by any member or employee of the corporation, to the extent that the
material or data consist of trade secrets, commercial or financial information
regarding the operation of any business conducted by an applicant for, or
recipient of, any form of assistance that the corporation is empowered to
render, or regarding the competitive position of that applicant in a particular
field of endeavor, shall not be a public record; provided that if the
corporation purchases a qualified security from an applicant, the commercial
and financial information, excluding confidential business information, shall
be deemed to become a public record of the corporation.  If the information is
made or received by any member or employee of the corporation after the
purchase of the qualified security, it shall become a public record three years
from the date the information was made or received.  Any discussion or
consideration of trade secrets or commercial or financial information, shall be
held by the board, or any subcommittee of the board, in executive sessions
closed to the public; provided that the purpose of any such executive session
shall be set forth in the official minutes of the corporation and business
which is not related to that purpose shall not be transacted, nor shall any
vote be taken during the executive sessions. [L 1990, c 110, pt of §3]