Section 83.29. Documentation of control.

 

(1)  An applicant shall submit evidence that one or more women owners have control over the business. Such evidence shall include, but is not limited, to the following:

(a) Signed bids and contracts.

(b) Signed debt instruments.

(c) Signed hiring decisions.

(d) Bank signature cards and bank resolution authorizations, for savings, checking and other financial accounts.

(e) Written proof that the organizational and governing documents of an applicant, such as limited liability company operating agreements, partnership agreements, or articles of incorporation and by-laws, do not contain any provision which restricts the woman owner from exercising control of the business.

(f)

1. Documentation, such as résumés, showing that the women owners have the managerial experience, knowledge and expertise – in such areas as finance, budgeting, personnel, production, marketing and research — needed for exercising day-to-day control over the business.

2. The department may waive the managerial experience required in subd. 1. , when a woman is starting a woman-owned business.

(2)  The managerial experience, knowledge and expertise of the women owners substantially demonstrates their ability to make independent and unilateral business decisions necessary to guide the future and destiny of the business. The applicant may document this ability and control in a number of ways. For a woman owner to demonstrate the extent of this control, the department may consider the following or other aspects of a business:

(a) Authority to sign payroll checks and letters of credit.

(b) Signature responsibility for insurance or bonds.

(c) Authority to negotiate and execute contracts and financial services agreements.

(d) Ability to obtain bank authorization resolutions.

(3)  Agreements for support services are permitted as long as the power of the woman owner to control the company is not restricted or impaired, as determined by the department.

History: CR 06-113 : cr. Register May 2007 No. 617 , eff. 6-1-07.