16.287 Minority businesses.
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/wi/chapter-16/16-287A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
16.287 Minority businesses.
(1)Definitions. In this section:
(a)“American Indian” means a person who is enrolled as a member of a federally recognized American Indian tribe or band or who possesses documentation of at least one-fourth American Indian ancestry or documentation of tribal recognition as an American Indian.
(b)“Asian-Indian” means a person whose ancestors originated in India, Pakistan or Bangladesh.
(c)“Black” means a person whose ancestors originated in any of the black racial groups of Africa.
(d)“Hispanic” means a person of any race whose ancestors originated in Mexico, Puerto Rico, Cuba, Central America or South America or whose culture or origin is Spanish.
(e)“Minority business” means a sole proprietorship, partnership, limited liability company, joint venture or corporation that fulfills both of the following requirements:
1m. It is at least 51 percent owned, controlled and actively managed by a minority group member or members who are U.S. citizens or persons lawfully admitted to the United States for permanent residence, as defined under 8 USC 1101
(a)(20).
2. It is currently performing a useful business function.
(ep)“Minority financial adviser” means a sole proprietorship, partnership, limited liability company, joint venture or corporation that fulfills all of the following requirements:
1. It is at least 51 percent owned, controlled and actively managed by a minority group member or members who are U.S. citizens or persons lawfully admitted to the United States for permanent residence, as defined under 8 USC 1101
(a)(20).
2. It serves as an adviser with regard to the sale of evidences of indebtedness or other obligations.
(f)“Minority group member” means any of the following:
1. A Black.