§126.201. Who does SBA consider to be an owner of a HUBZone small business concern?
13 C.F.R. § 126.201
For purposes of qualifying for HUBZone certification, SBA considers any person who owns any legal or equitable interest in a concern to be an owner of the concern. If an Employee Stock Ownership Plan owns all or part of the concern, SBA considers each stock trustee and plan member to be an owner. If a trust owns all or part of the concern, SBA considers each trustee and trust beneficiary to be an owner. In addition:
Corporations. SBA considers any person who owns stock, whether voting or non-voting, to be an owner. SBA considers options to purchase stock and the right to convert debentures into voting stock to have been exercised.
Partnerships. SBA considers all partners, whether general or limited, to be owners in a partnership.
Sole proprietorships. The proprietor is the owner.
Limited liability companies. SBA considers each member to be an owner of a limited liability company.
Notes, amendments, and revision history
Amendments
[69 FR 29422, May 24, 2004, as amended at 70 FR 51249, Aug. 30, 2005; 71 FR 69183, Nov. 30, 2006; 89 FR 102499, Dec. 17, 2024]
Authority
Authority: 15 U.S.C. 632(a), 632(j), 632(p), 644 and 657a.
Source
Source: 63 FR 31908, June 11, 1998, unless otherwise noted.
Amendments
[69 FR 29422, May 24, 2004, as amended at 70 FR 51249, Aug. 30, 2005; 71 FR 69183, Nov. 30, 2006; 89 FR 102499, Dec. 17, 2024]