Current through Register Vol. 48, No. 39, March 25, 2024
A. Eligibility of businesses as socially and
economically disadvantaged, economically disadvantaged area, or veteran-owned
small businesses must be determined consistent with the standards of parts
1230.1601 to 1230.1607.
B. The
following documentation and information must be provided in determining whether
a socially and economically disadvantaged, economically disadvantaged area, or
veteran-owned small business meets the standards of parts 1230.1601 to
1230.1607:
(1) documentation related to the
legal structure, ownership, and control of the applicant business. This
includes, but is not limited to, articles of incorporation; corporate bylaws or
operating agreements; organizational, annual, and board or member meeting
records; stock ledgers and certificates; and state-issued certificates of good
standing;
(2) bonding and financial
capacity of the business, lease and loan agreements, and bank account signature
cards;
(3) the work history of the
business, including contracts it has received, work it has completed, and
payroll records;
(4) a statement
from the business on the type of work it prefers to perform as part of the
program and its preferred locations for performing the work, if any;
(5) a list of the equipment owned by or
available to the business and the licenses the business and its key personnel
possess to perform the work it seeks to do as part of the program;
(6) complete financial statements, federal
income tax returns or requests for extensions fled by the businessand its
affiliates for the last three years. A complete return includes all forms,
schedules, and statements fled with the IRS;
(7) an appropriate application form, as
determined by the division;
(8) a
profile of the owners' management responsibilities and a description of the
management responsibilities assigned to other individuals, including a
chronological resume for each owner, officer, and other key personnel;
and
(9) full disclosure of all
owners' and officers' direct and indirect involvement in other businesses and
enterprises which are in the same fled of operation as the applicant, unless
ownership is by common stock regularly bought and sold through recognized
exchanges.
C. When
seeking certification under any provision of item A, or any certification
provision, the applicant shall provide all other relevant or supporting
information requested by the division.
D. The applicant must attest to the accuracy
and truthfulness of the information on the application form. This must be done
either in the form of a signed notorized affidavit or in the form of an unsworn
declaration executed under penalty of law.
E. All information on the form must be
reviewed prior to making a decision about the eligibility of the business.
Clarification of information contained in the application may be requested at
any time in the application process.
F. A certified business must inform the
commissioner in writing of any change in circumstances affecting its ability to
meet the requirements of parts 1230.1601 to 1230.1607 or any material change in
the information provided in its application form.
(1) Changes in management responsibility
among members of a limited liability company are covered by this
requirement.
(2) Supporting
documentation describing in detail the nature of such changes must be
attached.
(3) A signed notorized
notification must be provided within 30 days of the occurrence of the change.
If the applicant fails to make timely notification of such a change, the
applicant will be deemed to have failed to cooperate.
G. If an applicant for certification
withdraws an application before a decision on the application has been issued,
the applicant can resubmit the application at any time.
