WILLIAM DONALD SCHAEFER, Governor                     Ch. 48

(1) IN THIS SECTION, "BENEFICIAL OWNERSHIP" MEANS:

(I) ANY OWNERSHIP INTEREST OF 5% OR MORE IN A
BUSINESS;

(II) ANY OWNERSHIP INTEREST OF 5% OR MORE IN 1
OR MORE ENTITIES IN A CHAIN OF PARENT AND SUBSIDIARY ENTITIES,
ANY 1 OF WHICH PARTICIPATES IN AT LEAST 5% OF THE CAPITAL OR
PROFITS OF A BUSINESS; OR

(III) POSSESSION OF AN INTEREST THAT EXISTS
UNDER AN AGREEMENT, CONTRACT, RELATIONSHIP, UNDERSTANDING, OR
OTHER ARRANGEMENT AND ENTITLES A PERSON TO BENEFITS SUBSTANTIALLY
EQUIVALENT TO AN OWNERSHIP INTEREST OF 5% OR MORE OF A BUSINESS.

(2) IN THIS SECTION, UNLESS THERE ARE SPECIAL
CIRCUMSTANCES, AN INDIVIDUAL IS DEEMED TO HOLD AN OWNERSHIP
INTEREST THAT IS HELD BY THE INDIVIDUAL'S SPOUSE, THE
INDIVIDUAL'S CHILD, OR OTHER RELATIVE OF THE INDIVIDUAL WHO LIVES
IN THE INDIVIDUAL'S HOME.

(C) DISCLOSURE REQUIRED.

(1) IF, DURING A CALENDAR YEAR, A BUSINESS ENTERS
INTO CONTRACTS, LEASES, OR OTHER AGREEMENTS, WITH THE STATE OR
ITS UNITS OR BOTH, UNDER WHICH THE BUSINESS IS TO RECEIVE FROM
THE STATE OR ITS UNITS OR BOTH A TOTAL OF $100,000 OR MORE, THE
BUSINESS SHALL FILE WITH THE SECRETARY OF STATE A LIST THAT
CONTAINS THE NAME AND ADDRESS OF:

(I) ANY RESIDENT AGENT OF THE BUSINESS;

(II) EACH OFFICER OF THE BUSINESS; AND

(III) IF KNOWN, EACH PERSON WHO HAS BENEFICIAL
OWNERSHIP OF THE BUSINESS.

(2) THE LIST SHALL BE FILED WITHIN 30 DAYS OF THE
DATE WHEN THE TOTAL VALUE OF THE CONTRACTS, LEASES, OR OTHER
AGREEMENTS ENTERED INTO DURING THE CALENDAR YEAR REACHES
$100,000.

(3) IF A PERSON WHO HAS BENEFICIAL OWNERSHIP IS
UNKNOWN TO THE BUSINESS, IT IS SUFFICIENT FOR THE BUSINESS TO
DISCLOSE THE LEGAL OWNERSHIP OR THE IDENTITY OF THE NOMINEE WHO
HOLDS TITLE FOR THE UNKNOWN PERSON.

(D) PENALTY.

A BUSINESS OR AN OFFICER OF A BUSINESS WHO VIOLATES ANY
PROVISION OF THIS SECTION IS GUILTY OF A MISDEMEANOR AND ON
CONVICTION IS SUBJECT TO A FINE NOT EXCEEDING $10,000.

- 1647 -