Small Business Owned and Controlled by Service-Disabled Veterans Law and Legal Definition

According to 13 CFR 115.10 [Title 13 Business Credit and Assistance; Chapter I Small Business Administration; Part 115 Surety Bond Guarantee; Subpart A Provisions for all Surety Bond Guarantees], Small Business Owned and Controlled by Service-Disabled Veterans means:

(1) A Small Concern of which not less than 51 percent is owned by one or more Service-Disabled Veterans; or a publicly-owned Small concern of which not less than 51 percent of the stock is owned by one or more Service-Disabled Veterans; and

(2) The management and daily business operations of which are controlled by one or more Service-Disabled Veterans, or in the case of a Service-Disabled Veteran with permanent and severe disability, the spouse or permanent caregiver of such Veteran.