Control Person Law and Legal Definition
According to 13 CFR 108.50 (Title 13 - Business Credit And Assistance; Chapter I - Small Business Administration; Part 108 - New Markets Venture Capital (“NMVC”) Program; Subpart B - Definition Of Terms Used In This Part 108), Control Person means “any Person that controls a NMVC Company, either directly or through an intervening entity. A Control Person includes:
(1) A general partner of a Partnership NMVC Company;
(2) Any Person serving as the general partner, officer, director, or manager (in the case of a limited liability company) of any entity that controls a NMVC Company, either directly or through an intervening entity;
(3) Any Person that --
(i) Controls or owns, directly or through an intervening entity, at least 10 percent of a Partnership NMVC Company or any entity described in paragraphs (1) or (2) of this definition; and
(ii) Participates in the investment decisions of the general partner of such Partnership NMVC Company;
(4) Any Person that controls or owns, directly or through an intervening entity, at least 50 percent of a Partnership NMVC Company or any entity described in paragraphs (1) or (2) of this definition.”
Legal Definition list
Related Legal Terms
- Absent Person
- Access Control List [National Security]
- Access Control Mechanism [National Security]
- Accidental Personal Injury
- Accountable Personal Property
- Accounting Controls
- Actio Personalis Moritur Cum Persona
- Action in Personam
- Actus Inceptus Cujus Perfectio Pendet Ex Voluntate Partium Revocari Potest, Si Autem Pendet Ex Voluntate Tertiae Personae, Vel Ex Contingenti, Revocar
- Administering a Controlled Substance
