Section Adm 82.12 - Definitions In this chapter, unless the context requires otherwise:
(1) "Administrator" means the administrator of the division of enterprise operations in the department.(2) "Affiliate" means a company effectively controlled by another, such as a branch, division, or subsidiary, and includes a company in which there is ownership, direct or indirect, by another company, of 5 percent or more of the voting stock.(3) "Appeal" means a written request by an applicant to reconsider a determination of a denial of application, certification renewal, recertification or decertification.(4) "Applicant" means any business, financial adviser, or investment firm that applies to the department for certification as a disabled veteran-owned business, financial adviser, or investment firm under s. 16.283(3), Stats., and this chapter, through submission of application forms.(5) "Application" means the forms, whether paper or electronic, all documentation requested by the department, and a report of an on-site visit, if one was conducted by the department, upon which the department will base its decision to grant or deny certification, certification renewal or recertification.(6) "Assets" means the real and personal property of a business.(7) "Beneficial ownership" means ownership of the rights in a business that are the normal incidents of owning a business.(8) "Business" has the meaning given in s. 16.283(1) (a), Stats. Note: Section 16.283(1) (a) of the Statutes reads as follows: "`Business' means a sole proprietorship, partnership, limited liability company, joint venture, or corporation."
(9) "Capital contribution" means the cash or property contributed to a business, and may include a financial investment in the business or the contribution of property, space, patents and copyrights.(10) "Control" means the power to direct the day-to-day and long-term operation and management of a business. Note: Departmental assessments of operational and managerial control will rest upon the peculiarities of the industry of which the business is a part.
(11) "Conversion rights" means any agreement, option, scheme or documents that will create any rights which, if exercised, would result in less than 51 percent disabled-veteran ownership of the business, or less than dominant control by a disabled-veteran owner or his or her duly authorized representative, or both.(12) "Corporation" means a corporation organized for profit, with capital stock.(13) "Decertification" means the process by which the department determines that a certified DVB no longer meets the eligibility criteria, and then rescinds the certification status.(14) "Denial" means the department's reaction to an applicant that does not meet the certification eligibility requirements.(15) "Department" means the department of administration.(16) "Disabled veteran" has the meaning given in s. 16.283(1) (b), Stats. Note: Section 16.283(1) (b) of the Statutes reads as follows: "`Disabled veteran' means a person who is verified by the department of veterans affairs as being all of the following at the time the person applies for certification under sub. (3):
(17) "Disabled veteran-owned business, financial adviser, or investment firm" or "DVB" means a sole proprietorship, general partnership, corporation, limited liability company or joint venture, which is organized for a profit basis and which fulfills all of the following requirements: (a)1. If privately owned, it is at least 51 percent owned, controlled, and actively managed by one or more disabled veterans who are either U.S. citizens or lawfully admitted to the United States for permanent residence, as defined under 8 USC 1101(a)(20), except as provided in subd. 2.2. One or more duly authorized representatives of one or more disabled veterans may control the management and daily business operations of the business, financial adviser, or investment firm.(b)1. If publicly owned, at least 51 percent of the stock is owned and controlled by one or more disabled veterans who are either U.S. citizens or lawfully admitted to the United States for permanent residence, as defined under 8 USC 1101(a)(20); and the management and daily operations are controlled by one or more of those disabled veterans, except as provided in subd. 2.2. One or more duly authorized representatives of one or more disabled veterans may control the management and daily business operations of the business, financial adviser, or investment firm.(c) It is currently performing a useful business function.(d) It has its principal place of business in this state. Note: Section 8 USC 1101(a)(20) reads as follows "The term `lawfully admitted for permanent residence' means the status of having been lawfully accorded the privilege of residing permanently in the United States as an immigrant in accordance with the immigration laws, such status not having changed."
(18) "Disabled veteran-owned entity" means a disabled veteran-owned business, financial adviser, or investment firm.(19) "Distributor" means one that markets or sells merchandise, such as a wholesaler.(20) "Duly authorized representative" has the meaning given in s. 45.04(1) (a), Stats. Note: Section 45.04(1) (a) of the Statutes reads as follows: "`Duly authorized representative' means any person authorized in writing by the veteran to act for the veteran, the veteran's guardian if the veteran is adjudicated incompetent, or a legal representative if the veteran is deceased. Where for proper reason no representative has been or will be appointed, the veteran's spouse, an adult child, or, if the veteran is unmarried, either parent of the veteran shall be recognized as the duly authorized representative."
(21) "Expiration" means the specified end of the DVB certification, at the close of the three-year certification period.(22) "Financial adviser" has the meaning given in s. 16.283(1) (d), Stats. Note: Section 16.283(1) (d) of the Statutes reads as follows: "`Financial adviser' means a business that serves as an adviser with regard to the sale of evidences of indebtedness or other obligations.
(23) "General partner" means a partner in a limited partnership who participates fully in the profits, losses and management of a partnership and who is personally liable for its debts.(24) "Industry standard" means the usual and customary practice in the delivery of products or services within a particular business sector, such as procurement, billing payment and performance.(25) "Interest" means a right, claim, financial or legal share in a business.(26) "Investment firm" has the meaning given in s. 16.283(1) (e), Stats. Note: Section 16.283(1) (e) of the Statutes reads as follows: "`Investment firm' means a business that serves as a manager, co-manager, or in any other underwriting capacity with regard to the sale of evidences of indebtedness or other obligations or as a broker-dealer as defined in s. 551.102(4)."
(27) "Issued shares" means the shares of a corporation which its articles of incorporation have authorized for issuance and which have actually been sold to subscribers. They may include treasury shares.(28) "Joint venture agreement" means a written agreement signed by each joint venturer specifying the terms and conditions of the joint venture.(29) "Limited liability company" means a company formed under ch. 183, Stats., or under a similar statute of another state, and similar in structure to a partnership, but its members are not personally liable for the entity's debts and liabilities. Its members may participate in the management of the company without risking personal liability.(30) "Limited partner" means any partner in a limited partnership who is not a general partner.(31) "Limited partnership" has the meaning given in s. 179.0102(12), Stats. Note: Section 179.01(7) of the Statutes defines a "Limited partnership" as being a partnership formed by 2 or more persons under chapter 179 of the Statutes "and having one or more general partners and one or more limited partners."
(32) "Marital-property agreement" means an agreement that complies with s. 766.58, Stats.(33) "Marital property laws" means ch. 766, Stats.(34) "Marital-property waiver" means a form provided by the department to document separate control and management of a business under marital property laws.(35) "Nonprofit organization" means an organization as defined in s. 108.02(19), Stats.(36) "On-site visit" means a visit to an applicant's physical place of business for the verification of information submitted in the application and accompanying documentation.(37) "Parent company" means a company that has at least a majority direct-voting control over another company.(38) "Partnership" has the meaning given in s. 178.0102(11), Stats. Note: Section 178.0102(11) of the Statutes reads as follows: "Partnership" or "domestic partnership" means an association of 2 or more persons, except to the extent provided in s. 178.0801(6), to carry on as co-owners a business for profit whose governing law is the law of this state, and which is subject to this chapter, including an association that has become and is still subject to this chapter. The term includes a limited liability partnership."
(39) "Partnership agreement" means a written agreement signed by each partner specifying the terms and conditions of the partnership.(40) "Partnership interest" means a partner's share of the profits and losses of the partnership and the right to receive distributions of partnership assets.(41) "Principal place of business" means the physical location at which or from which a business performs, is maintained, or operates the majority of its business.(42) "Recertification" means the process by which DVB status is reconfirmed, prior to expiration at the close of the three-year certification period.(43) "Renewal" means a one-year continuation of a DVB certification, at the end of each of the first two years of the three-year certification period, as subject to a review by the department.(44) "Retailer" means the seller of goods or commodities directly to consumers at a retail price.(45) "Secretary" means the secretary of the department.(46) "Securities" means stocks, bonds, notes, convertible debentures, warrants or other documents that represent a share in a business, or a debt owed by a business.(47) "Shares" means the units into which the proprietary interests in a corporation are divided.(48) "Sole proprietorship" means a business in which one person owns all the assets of the business and is solely liable for all the debts of the business.(49) "Stock-affirmation form" means a form provided by the department and affirmed by the applicant stating that the stock ownership of the corporation is as presented in the application, and in which the applicant agrees to notify the department in the event that additional stock is sold.(50) "Stock certificate" means a certificate issued by a corporation certifying that the named person is the owner of a designated number of shares of stock.(51) "Subsidiary" means a corporation in which one other corporation owns a majority of the voting shares.(52) "Treasury shares" means the shares which have been issued but later re-acquired by a corporation and which have not been canceled or restored to the status of authorized but unissued shares.(53) "Unissued shares" means shares which the corporation is authorized to issue but which have not yet been distributed to shareholders or subscribers.(54) "Useful business function" means the provision of materials, supplies, equipment or services to customers, including the state. Acting as a conduit to transfer funds to a business that is not certified under this chapter does not constitute a useful business function, unless doing so is a normal industry practice.(55) "Voting shares" means those shares that give the holder the right to vote for directors and other matters - in contrast to non-voting shares, which simply entitle the holder to dividends, if any.(56) "Wholesaler" means a middle person or distributor who sells mainly to retailers, other merchants, and industrial commercial institutional users, as distinguished from consumers.Wis. Admin. Code Department of Administration Adm 82.12
EmR1041: emerg. cr., eff. 11-14-10; CR 11-004: cr. Register September 2011 No. 669, eff. 10-1-11; corrections in (1), (15) made under s. 13.92(4) (b) 6, Stats., corrections in (4), (8), (16), (22), (26) made under s. 13.92(4) (b) 7, Stats., Register September 2011 No. 669; correction in (1) made under s. 13.92(4) (b) 6, Stats., Register December 2011 No. 672.Amended by, correction in (38) made under s. 13.92(4) (b) 7, Stats., Register March 2017 No. 735, eff. 4/1/2017Amended by, correction in (16) (Note) made under s. 13.92(4) (b), Stats., Register February 2021 No. 782, eff. 3/1/2021Amended by, correction in (31) made under s. 13.92 (4) (b) 7, Stats., Register June 2023 No. 810, eff. 7/1/2023