Wisconsin Administrative Code › Department of Administration › Chapter Adm 82 - Disabled Veteran-Owned Business Certification Program › Section Adm 82.12 - Definitions

Current through June 24, 2024
In this chapter, unless the context requires otherwise:
(1) "Administrator" means the administrator of the division of enterprise
								 operations in the department.
(2) "Affiliate" means a company
								 effectively controlled by another, such as a branch, division, or subsidiary, and includes a company in which
								 there is ownership, direct or indirect, by another company, of 5 percent or more of the voting
								 stock.
(3) "Appeal" means a written request by an applicant to
								 reconsider a determination of a denial of application, certification renewal, recertification or
								 decertification.
(4) "Applicant" means any business, financial
								 adviser, or investment firm that applies to the department for certification as a disabled veteran-owned
								 business, financial adviser, or investment firm under s. 16.283(3), Stats., and this chapter, through
								 submission of application forms.
(5) "Application" means the
								 forms, whether paper or electronic, all documentation requested by the department, and a report of an on-site
								 visit, if one was conducted by the department, upon which the department will base its decision to grant or
								 deny certification, certification renewal or recertification.
(6)
								 "Assets" means the real and personal property of a business.
(7)
								 "Beneficial ownership" means ownership of the rights in a business that are the normal incidents of owning a
								 business.
(8) "Business" has the meaning given in s. 16.283(1) (a), Stats.
Note:
Section 16.283(1) (a) of the Statutes reads as follows:
										"`Business' means a sole proprietorship, partnership, limited liability company, joint venture, or
										corporation."
(9) "Capital contribution" means the cash or
								 property contributed to a business, and may include a financial investment in the business or the
								 contribution of property, space, patents and copyrights.
(10)
								 "Control" means the power to direct the day-to-day and long-term operation and management of a business.
Note:
Departmental assessments of operational and managerial
										control will rest upon the peculiarities of the industry of which the business is a part.
(11) "Conversion rights" means any agreement, option, scheme or documents
								 that will create any rights which, if exercised, would result in less than 51 percent disabled-veteran
								 ownership of the business, or less than dominant control by a disabled-veteran owner or his or her duly
								 authorized representative, or both.
(12) "Corporation" means a
								 corporation organized for profit, with capital stock.
(13)
								 "Decertification" means the process by which the department determines that a certified DVB no longer meets
								 the eligibility criteria, and then rescinds the certification status.
(14) "Denial" means the department's reaction to an applicant that does not
								 meet the certification eligibility requirements.
(15)
								 "Department" means the department of administration.
(16)
								 "Disabled veteran" has the meaning given in s. 16.283(1) (b), Stats.
Note:
Section 16.283(1) (b) of the Statutes reads as follows:
										"`Disabled veteran' means a person who is verified by the department of veterans affairs as being all of the
										following at the time the person applies for certification under sub. (3):
(17) "Disabled veteran-owned business, financial adviser, or investment
								 firm" or "DVB" means a sole proprietorship, general partnership, corporation, limited liability company or
								 joint venture, which is organized for a profit basis and which fulfills all of the following requirements:
(a)
1. If privately owned, it is at least
								 51 percent owned, controlled, and actively managed by one or more disabled veterans who are either U.S.
								 citizens or lawfully admitted to the United States for permanent residence, as defined under  8 USC 1101(a)(20), except as provided in subd. 2.
2. One or more duly
								 authorized representatives of one or more disabled veterans may control the management and daily business
								 operations of the business, financial adviser, or investment firm.