N.Y. Comp. Codes R. & Regs. tit. 6 § 615.8

Current through Register Vol. 46, No. 50, December 11, 2024

Section 615.8 - Eligibility criteria for minority and women-owned business enterprises

A business entity is eligible to participate in the minority and women-owned business program, as a minority or women-owned business, if: 51 percent of all equity interests in the business entity are owned by minority or women principals; such ownership interest is real, substantial and continuing, and the minority or women principals have authority to independently control the day-to-day business decisions of the business firm. The department shall accept, as eligible for participation in the minority and women-owned business enterprise program, firms which have been certified under the New York State minority and women-owned business enterprise certification program. In determining eligibility for participation in the minority and women-owned business enterprise program and as an agency participating in the New York State minority and women-owned business enterprise certification program, the department shall consider the following factors:

(a) the relative experience, expertise or capabilities necessary to the operation of the firm's business, possessed by minority and women principals, as compared to that of other principals in the firm;

(b) the contributions of capital to a firm in the form of money, real property, equipment or other assets made by minority or women principals, as compared to those made by other principals in the firm;

(c) the distribution of a firm's wealth between minority or women principals and other principals in the firm;

(d) the existence of any relationships, between minority or women principals and other principals in the firm, or other firm, which might affect the ability of minority or women principals to control business decisions of the firm;

(e) the authority of minority or women principals to make business decisions by virtue of a firm's organizational structure, corporate bylaws or certificate of incorporation, partnership agreement, or any other agreement between minority or women principals and other principals in the firm; and

(f) any other facts or circumstances determined to be relevant by the department.

N.Y. Comp. Codes R. & Regs. Tit. 6 § 615.8