Section 84.08. Documentation of control.

  The department shall require evidence that the minority owner or owners have at least 51% control over the business. Such evidence may include, but is not limited to, the following:

(1)  Documentation that the minority owner or owners have the authority to:

(a) Solicit, negotiate and sign bids and contracts.

(b) Incur liabilities for the firm.

(c) Make final staffing decisions.

(d) Control savings, checking and other financial accounts.

(2)  Documentation, such as a resume, that the minority owner or owners have managerial experience, knowledge and expertise in such areas as finance, budgeting, personnel, production, marketing and research.

(3)  Documentation that the minority owner's or owners' authority to control the business is not restricted in any way.

History: Cr. Register, September, 1987, No. 381 , eff. 10-1-87.