Definitions.

CFR · 2024-01-01 · US · Title 5

In this subpart: (1) Has a direct and/or indirect ownership interest of 5 percent or more in an entity; (2) Owns a whole or part interest in a mortgage, deed of trust, note, or other obligation secured by the entity or the entity's property or assets, equating to a direct interest of 5 percent or more of the total property or assets of the entity; (3) Serves as an officer or director of the entity, if the entity is organized as a corporation; (4) Is a partner in the entity, if the entity is organized as a partnership; (5) Serves as a managing employee of the entity, including but not limited to employment as a general manager, business manager, administrator, or other position exercising, either directly or through other employees, operational or managerial control over the activities of the entity or any portion of the entity; (6) Exercises substantive control over an entity or a critical influence over the activities of the entity or some portion of thereof, whether or not employed by the entity; or (7) Acts as an agent of the entity.

official document · source cfr-2024 · id 5:§ 890.1003