Section 84.09. Determination of active management.

 

(1)  Factors which shall be considered in determining whether the applicant meets the active management requirement include, but are not limited to, the following:

(a) Whether the minority owner or owners are responsible for making business decisions affecting the day-to-day operations of the firm, such as the purchase of goods, equipment, business inventory and services.

(b) Whether the minority owner or owners have the responsibility for the supervision of the firm's employees.

(c) Whether the minority owner or owners have a working knowledge of the technical requirements of the business.

(2)  Where the actual day-to-day management is delegated to a nonminority individual, the minority management requirement may be met if the minority owner or owners have the ultimate power to hire and fire the manager.

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