W. Va. Code R. § 148-22-4

Current through Register Vol. XLI, No. 35, August 30, 2024

Section 148-22-4 - Verification of Business Ownership

4.1. Proof of Ownership. -- All minority, women, or small business owners seeking certification or recertification under these rules shall certify to the Director that he/she/they own the requisite percentage of the business at the time the application is submitted. Upon request of the Director, the business owner(s) must submit documented proof of ownership. Such proof may include, but is not limited to stock certificates, a notarized affidavit of stock ownership from the corporate treasurer, a partnership agreement, articles of organization, articles of incorporation, operating agreements, canceled check used to purchase ownership, or other recognized proof of ownership. The Director shall have sole discretion in determining whether an applicant has the requisite percentage ownership. The Director may verify the business ownership at any time.

4.2. Trust Ownership. -- In determining whether the fifty-one percent ownership requirement is met, ownership held in trust shall not be counted.