minority business enterprise definition

minority business enterprise means any small contractor or supplier of materials fifty-one percent or more of the capital stock, if any, or assets of which is owned by a person or persons: (1) who are active in the daily affairs of the enterprise, (2) who have the power to direct the management and policies of the enterprise, and (3) who are members of a minority, as such term is defined in subsection (a) of Connecticut General Statutes § 32-9n; and

minority business enterprise means any small contractor or supplier of materials fifty-one percent or more of the capital stock, if any, or assets of which is owned by a person or persons:

minority business enterprise means any small contractor or supplier of materials fifty-one per cent or more of the capital stock, if any, or assets of which is owned by a person or persons: (1) Who are active in the daily affairs of the enterprise, (2) who have the power to direct the management and policies of the enterprise and (3) who are members of a minority, as such term is defined in subsection (a) of section 32-9n; and "good faith" means that degree of diligence which a reasonable person would exercise in the performance of legal duties and obligations. "Good faith efforts" shall include, but not be limited to, those reasonable initial efforts necessary to comply with statutory or regulatory requirements and additional or substituted efforts when it is determined that such initial efforts will not be sufficient to comply with such requirements.

Examples of minority business enterprise in a sentence

• For purposes hereof, "Minority Business Enterprise" "(MBE)" shall mean any business enterprise which is at least fifty-one percentum owned by, or in the case of a publicly owned business, at least fifty-one percentum of the stock of which is owned by citizens or permanent resident aliens who are minorities and such ownership is real, substantial and continuing.

• If as of or after the Shareholder transfers the Shares, the voting agreement and irrevocable proxy terminate due to the Company no longer being a Minority Business Enterprise pursuant to the National Minority Supplier Development Council or successor entity other than due to action taken by the Shareholder, the new holder shall have the right to have the legend removed from the Shares.

• The Members have formed the Company with the specific intention of having the Company certified as a bonafide Minority Business Enterprise ("MBE") by the Michigan Minority Business Development Council ("MMBDC") of the National Minority Supplier Development Council ("NMSDC").

• In addition, Compaq requires that its Suppliers agree to implement and maintain a Small, Woman-Owned, Minority Business Enterprise (SWMBE) program in accordance with Federal Acquisition Regulations (FAR) 52.219-0(d)(ll)(iii).

• Commitments to Minority Business Enterprise (MBE) and Women's Business Enterprise (WBE) firms made at the time of bidding must be maintained throughout the term of the contract.

More Definitions of minority business enterprise

minority business enterprise means any small contractor or supplier of materials fifty-one percent or more of the capital stock, if any, or assets of which is owned by a person or persons: (1) who are active in the daily affairs of the enterprise,

minority business enterprise or "minority business" means an individual, partnership, corporation, limited liability company, or joint venture of any kind that is owned and controlled by one (1) or more persons who are: (1) United States citizens; and

minority business enterprise as used in this policy means a business that is at least 51 percent owned by one or more minority person(s), or in the case of any business whose stock is publicly held, at least 51 percent of the stock is owned by one or more or minority persons.

minority business enterprise or “MBE” means a firm awarded certification as a minority owned and controlled business in accordance with City Ordinances and Regulations.

minority business enterprise or “MBE” means any legal entity, other than a joint venture, organized to engage in commercial transactions, that is:

minority business enterprise. (MBE) means an entity meeting the definition at COMAR 21.0 1.02.01B(54), which is certified by the Maryland Department of Transportation under COMAR 21.11.03.

minority business enterprise or "MBE" means a Business Enterprise owned, operated and controlled by one or more Minority Persons who have at least 51% ownership. The Minority Person(s) must have operational and managerial Control, interest in capital, and earnings commensurate with the percentage of ownership. To qualify as a Minority Business Enterprise, the enterprise shall be located and doing business in the Cleveland Contracting Market.