---
kind: "section"
citation: "25 C.F.R. § 502.17"
title: "25"
number: "502.17"
heading: "Person having a direct or indirect financial interest in a management contract."
url: "https://uscodex.org/cfr/25/502.17"
---

# §502.17. Person having a direct or indirect financial interest in a management contract.


Person having a direct or indirect financial interest in a management contract means:

- (a) When a person is a party to a management contract, any person having a direct financial interest in such management contract;
- (b) When a trust is a party to a management contract, any beneficiary or trustee;
- (c) When a partnership is a party to a management contract, any partner;
- (d) When a corporation is a party to a management contract, any person who is a director or who holds at least 5% of the issued and outstanding stock alone or in combination with another stockholder who is a spouse, parent, child or sibling when the corporation is publicly traded or the top ten (10) shareholders for a privately held corporation;
- (e) When an entity other than a natural person has an interest in a trust, partnership or corporation that has an interest in a management contract, all parties of that entity are deemed to be persons having a direct financial interest in a management contract; or
- (f) Any person or entity who will receive a portion of the direct or indirect interest of any person or entity listed above through attribution, grant, pledge, or gift.

## Notes

### Amendments

[74 FR 36932, July 27, 2009]

### Authority

Authority: 25 U.S.C. 2701 et seq.

### Source

Source: 57 FR 12392, Apr. 9, 1992, unless otherwise noted.

### Amendments

[74 FR 36932, July 27, 2009]