Section Adm 84.07 - Determination of control(1) Factors which shall be considered in determining whether the applicant meets the control requirement include, but are not limited to, the following: (a) Authority and restrictions as indicated in the articles of incorporation, by-laws, minutes of corporate meetings, bank signature cards, partnership and joint venture agreements and other business agreements and documents.(b) Membership of minority persons on the board of directors.(c) Holdings by minority persons of the voting interests in the firm.(d) The managerial experience, knowledge and expertise of the minority owner or owners in such areas as finance, budgeting, personnel, production, marketing and research.(e) Whether the minority owner or owners have the authority to make policy decisions in such areas as finance, budgeting, personnel, production, marketing and research.(f) The existence of working agreements with nonminority firms.(g) The existence of restrictive financing agreements with nonminority firms or financial institutions which impose undue limitations on the minority firm.(2) Absentee ownership or titular ownership by an individual who does not take an active role in controlling the business is not consistent with the eligibility criteria for certification as a minority business enterprise.Wis. Admin. Code Department of Administration Adm 84.07
Cr. Register, September, 1987, No. 381, eff. 10-1-87.