Wisconsin § 16.287 - Minority businesses.

§ 16.287. Minority businesses.

16.287(1) (1) Definitions. In this section: 16.287(1)(a) (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. 16.287(1)(b) (b) “Asian-Indian” means a person whose ancestors originated in India, Pakistan or Bangladesh. 16.287(1)(c) (c) “Black” means a person whose ancestors originated in any of the black racial groups of Africa. 16.287(1)(d) (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. 16.287(1)(e) (e) “Minority business” means a sole proprietorship, partnership, limited liability company, joint venture or corporation that fulfills both of the following requirements: 16.287(1)(e)1m. 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). 16.287(1)(e)2. 2. It is currently performing a useful business function. 16.287(1)(ep) (ep) “Minority financial adviser” means a sole proprietorship, partnership, limited liability company, joint venture or corporation that fulfills all of the following requirements: 16.287(1)(ep)1. 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). 16.287(1)(ep)2. 2. It serves as an adviser with regard to the sale of evidences of indebtedness or other obligations. 16.287(1)(f) (f) “Minority group member” means any of the following: 16.287(1)(f)1. 1. A Black. 16.287(1)(f)2. 2. A Hispanic. 16.287(1)(f)3. 3. An American Indian. 16.287(1)(f)4. 4. An Eskimo. 16.287(1)(f)5. 5. An Aleut. 16.287(1)(f)6. 6. A native Hawaiian. 16.287(1)(f)7. 7. An Asian-Indian. 16.287(1)(f)8. 8. A person of Asian-Pacific origin. 16.287(1)(fm) (fm) “Minority investment firm” means a sole proprietorship, partnership, limited liability company, joint venture or corporation that fulfills all of the following requirements: 16.287(1)(fm)1. 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). 16.287(1)(fm)2. 2. It serves as a manager, comanager 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) . 16.287(1)(g) (g) “Person of Asian-Pacific origin” means a person whose ancestors originated in Japan, China, Taiwan, Korea, Vietnam, Laos, Cambodia, the Philippines, Samoa, Guam, the U.S. Trust Territories of the Pacific or the Northern Marianas. 16.287(1)(h) (h) “Useful business function” means the provision of materials, supplies, equipment or services to customers in addition to this state. Acting as a conduit to transfer funds to a nonminority business does not constitute a useful business function, unless doing so is a normal industry practice. 16.287(2) (2) Minority business, adviser and firm certification. 16.287(2)(a) (a) For the purposes of ss. 16.75 (3m) , 16.855 (10m) , 16.87 (2) ,