---
kind: "section"
citation: "29 C.F.R. § 541.101"
title: "29"
number: "541.101"
heading: "Business owner."
url: "https://uscodex.org/cfr/29/541.101"
---

# §541.101. Business owner.


The term “employee employed in a bona fide executive capacity” in section 13(a)(1) of the Act also includes any employee who owns at least a bona fide 20-percent equity interest in the enterprise in which the employee is employed, regardless of whether the business is a corporate or other type of organization, and who is actively engaged in its management. The term “management” is defined in [§ 541.102](/cfr/29/541.102.md). The requirements of [Subpart G](/cfr/29/subpartG.md) (salary requirements) of this part do not apply to the business owners described in this section.


## Notes

### Authority

Authority: 29 U.S.C. 213; Public Law 101-583, 104 Stat. 2871; Reorganization Plan No. 6 of 1950 (3 CFR 1945-53 Comp. p. 1004); Secretary's Order No. 4-2001 (66 FR 29656). 29 U.S.C. 213; Pub. L. 101-583, 104 Stat. 2871; Reorganization Plan No. 6 of 1950 (3 CFR, 1945-53 Comp., p. 1004); Secretary's Order 01-2014 (Dec. 19, 2014), 79 FR 77527 (Dec. 24, 2014).

### Source

Source: 69 FR 22260, Apr. 23, 2004, unless otherwise noted.