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2007 Laws of Maryland
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Ch. 621
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4. RECOGNITION OF THE BUSINESS AS A SEPARATE
ENTITY FOR TAX OR CORPORATE PURPOSES IS NOT NECESSARILY SUFFICIENT
FOR RECOGNITION AS A MINORITY BUSINESS ENTERPRISE.
5. IN DETERMINING WHETHER A POTENTIAL
MINORITY BUSINESS ENTERPRISE IS AN INDEPENDENT BUSINESS, THE STATE
CERTIFICATION CERTIFYING AGENCY SHALL CONSIDER ALL RELEVANT
FACTORS, INCLUDING:
A. THE DATE THE BUSINESS WAS ESTABLISHED;
B. THE ADEQUACY OF ITS RESOURCES FOR THE
WORK OF THE CONTRACT; AND
C. THE DEGREE TO WHICH FINANCIAL, EQUIPMENT
LEASING, AND OTHER RELATIONSHIPS WITH NONMINORITY BUSINESSES VARY
FROM INDUSTRY PRACTICE.
(IV) 1. THE MINORITY OWNERS ALSO SHALL POSSESS
THE POWER TO DIRECT OR CAUSE THE DIRECTION OF THE MANAGEMENT AND
POLICIES OF THE BUSINESS AND TO MAKE THE DAY-TO-DAY AS WELL AS MAJOR
DECISIONS ON MATTERS OF MANAGEMENT, POLICY, AND OPERATIONS.
2. THE BUSINESS MAY NOT BE SUBJECT TO ANY
FORMAL OR INFORMAL RESTRICTIONS, THROUGH BYLAW PROVISIONS,
PARTNERSHIP AGREEMENTS, OR CHARTER REQUIREMENTS FOR CUMULATIVE
VOTING RIGHTS OR OTHERWISE THAT PREVENT THE MINORITY OWNERS,
WITHOUT THE COOPERATION OR VOTE OF ANY OWNER WHO IS NOT A MINORITY,
FROM MAKING A BUSINESS DECISION OF THE BUSINESS.
(V) 1. IF THE OWNERS OF THE BUSINESS WHO ARE NOT
MINORITIES ARE DISPROPORTIONATELY RESPONSIBLE FOR THE OPERATION OF
THE FIRM, THE FIRM IS NOT CONTROLLED BY MINORITIES AND MAY NOT BE
CONSIDERED A MINORITY BUSINESS ENTERPRISE WITHIN THE MEANING OF
THIS SECTION.
2. WHERE THE ACTUAL MANAGEMENT OF THE
BUSINESS IS CONTRACTED OUT TO INDIVIDUALS OTHER THAN THE OWNER,
THOSE PERSONS WHO HAVE THE ULTIMATE POWER TO HIRE AND FIRE THE
MANAGERS MAY, FOR THE PURPOSES OF THIS SUBSECTION, BE CONSIDERED AS
CONTROLLING THE BUSINESS.
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- 3940 -
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