Owned and controlled definition

Owned and controlled means a business which is:
Owned and controlled means having: (1) ownership of at least fifty-one percent of the enterprise, including corporate stock
Owned and controlled means that at least fifty-one per cent of the business, including corporate stock if a corporation, is owned by persons who belong to one or more of the groups listed above. These owners must have control over the management and day-to-day operations of the business and an interest in the capital, assets, and profits and losses of the business proportionate to their percentage of ownership. In addition, the business must have been owned and controlled by those persons at least one year prior to being awarded a contract.

Examples of Owned and controlled in a sentence

  • Overall Context and Objectives (Commitment Design)The commitment aimed to standardize the methodology and process of the Third-Party Customer Satisfaction Survey that is part of the Governance Commission for Government Owned and Controlled Corporations (GCG) Performance Evaluation System, which all Government-Owned and Controlled Corporations (GOCCs) are required to undertake.

  • Pursuant to EO 12928, subrecipients are strongly encouraged to provide subcontracting/subgranting opportunities to Historically Black Colleges and Universities and other Minority Institutions such as Hispanic-Serving Institutionsand Tribal Colleges and Universities; and to Small Businesses Owned and Controlled by Socially and Economically Disadvantaged Individuals.

  • Owned and Controlled is defined as a firm which is at least fifty-one (51%) percent owned by one or more disadvantaged individuals, or in the case of a publicly owned business, at least fifty-one (51%) percent of the stock is owned by one or more disadvantaged individuals, and whose management and daily business operations are controlled by one or more such individuals.

  • Owned and Controlled is defined as: that at least 51% of the ownership interests as well as the management and daily business operations of the firm reside in individuals whose personal net worth does not exceed the requirements established in 49 CFR, Part 26.

  • For infrastructure projects implemented by other national government agencies, Government Owned and Controlled Corporations (and other government instrumentalities, the head or representative of the agency, GOCC, or government instrumentality concerned shall monitor compliance with these Guidelines SBMA shall issue one 1 QP each to the government agency concerned and the contractor.


More Definitions of Owned and controlled

Owned and controlled means having:
Owned and controlled means a business, which is a: 1) sole proprietorship legitimately owned by a person who is a minority or white female; 2) a partnership or joint venture controlled by minorities and/or women, and in which at least 51% of the beneficial ownership interests legitimately are held by minorities and/or females, and in which at least 51% of the voting stock or interested 51% of the beneficial ownership interests are legitimately held by minorities and/or females. In addition, these persons must control the management and operations of the business on a day‐to‐day basis.
Owned and controlled means having for: (i) owners and developers: (a) ownership of at least 51% of the enterprise (stock of a corporation; interest in a limited liability company; or general partner of a limited partnership); (b) control over the management and active in the day to day operation of the business; (c) an interest in the capital, assets and profits and losses of the business proportional to the percentage of ownership; and (d) materially participates in the Development or management of the Development; or (ii) contractors and management entities: (a) ownership of at least 51% of the enterprise (stock of a corporation; interest in a limited liability company; or general partner of a limited partnership); (b) control over the management and active in the day to day operation of the business; and (c) an interest in the capital, assets and profits and losses of the business proportional to the percentage of ownership. Points will be awarded with one (1) point per certification submitted. Points will be awarded as follows:
Owned and controlled means a business: (a) which is at least 51 percent owned by one or more "Socially and Economically Disadvantaged Individuals" or, in the case of a publicly-owned business, at least 51 percent of the stock of which is owned by one or more "Socially and Economically Disadvantaged Individuals"; and (b) whose management and daily business operations are controlled by one or more such individuals.
Owned and controlled means a business:
Owned and controlled means at least fifty-one per cent of the business (stock, units, percentage) is owned by socially and economically disadvantaged person(s). The contributions of capital or expertise used to acquire ownership must be “real and substantial,” going beyond pro forma ownership, and derived from individually and independently owned resources.
Owned and controlled means that at least fifty-one percent (51%) of the business is owned by persons who belong to an economically disadvantaged group as provided in subsection (b)(3)A. hereof, and that such owners have control over the management and day-to-day operations of the business and an interest in the capital, assets, and profits and losses of the business proportionate to their percentage of ownership. If the business is a corporation, at least fifty-one percent (51%) of each of the following must be members of an economically disadvantaged group: the board of directors; the principal executive officers; and ownership in shares of every class of stock. If the business is a limited liability company, at least fifty-one percent (51%) of each of the following must be members of an economically disadvantaged group: the members and the principal executive officers. If the business is a partnership, at least fifty-one percent (51%) of each class of partnership interest must be owned by partners belonging to an economically disadvantaged group. If the business is a sole proprietorship, the proprietor must be a member of an economically disadvantaged group and own the entire interest in the capital, assets, profits and losses of the business, not including mortgages and other types of financial arrangements secured by assets or bonds secured by revenues. If the business is a joint venture, at least fifty-one percent (51%) of the joint venture must be controlled by economically disadvantaged persons, one (1) or more of such persons being designated as the joint venture manager, and such persons have an interest in the capital, assets, profits and losses of the joint venture proportionate to their percentage of ownership.