Section 84.24. Certification criteria for for-profit corporations owned by a non-profit organization.

 

(1)  The department may certify a for-profit corporation owned by a non-profit organization if the department determines that the non-profit organization is minority-controlled and managed. Factors which the department may consider in reaching this determination include, but are not limited to, the following:

(a) At least 51% of the members who may elect the board of directors or trustees and who are entitled to vote on a dissolution of the non-profit organization are minorities;

(b) At least 51% of the board of directors or trustees of the non-profit organization are minorities;

(c) The minutes of the organization's meetings document the active control and participation of the minority members of the board in such areas as setting and monitoring financial policy, personnel policy, and program policy;

(d) The non-profit organization is independent of control or substantial influence by a nonminority non-profit or for-profit organization. The non-profit minority organization shall be rebuttably presumed to be dependent on a nonminority organization if it shares office space, staff, equipment or other resources with a nonminority for-profit or non-profit organization or receives the majority of its funding from a single nonminority organization.

(2)  The department shall follow the certification procedures described in s. Adm 84.14 .

History: Cr. Register, September, 1987, No. 381 , eff. 10-1-87; correction in (2) made under s. 13.92 (4) (b) 7. , Stats., Register December 2011 No. 672 .