Financially Interested Person Law and Legal Definition
A Financially Interested Person is a person having a financial interest in a business, or any other transactions or events in which financial interests are involved. S/he may be serving as an officer, employee or member of the Board of Directors of a business or other entity or s/he can also be someone else who is in a position of control over the entity. A financially interested person may also be a person involved in trade or commerce of various goods or products.
The following is an example of a Federal regulation which defines the term ‘Financially Interested Person’:
According to 7 CFR 54.1 [Title 7—Agriculture; Subtitle B - Regulations Of The Department Of Agriculture; Chapter I - Agricultural Marketing Service H1 (Standards, Inspections, Marketing Practices), Department Of Agriculture; Subchapter C -Regulations And Standards Under The Agricultural Marketing Act Of 1946 And The Egg Products Inspection Act, Part 54 - Meats, Prepared Meats, And Meat Products (Grading, Certification, And Standards), Subpart A - Regulations Definitions] Financially interested person is “Any person having a financial interest in the products involved, including but not limited to the shipper, receiver, producer, seller, buyer, or carrier of the products.”
Legal Definition list
Related Legal Terms
- Absent Person
- Accidental Personal Injury
- Accountable Personal Property
- 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
- Adverse Personnel Action
- Affiliated Persons (Securities)
- Agency Designee [Administrative Personnel]
- Antisocial Personality Disorder
