52:27H-21.8 - Definitions
52:27H-21.8. Definitions
For the purposes of this act:
a. "Authority" means the New Jersey Development Authority for Small Businesses, Minorities and Women's Enterprises established pursuant to the provisions of P.L. 1985, c. 386 (C. 34:1B-47 et seq.);
b. "Commissioner" means the Commissioner of the Department of Commerce and Economic Development;
c. "Division" means the Division of Development for Small Businesses and Women's and Minority Businesses;
d. "Eligible business" means a small business or a minority or women's business certified by the division and determined to be eligible to receive assistance and to participate in programs according to the standards established pursuant to this act;
e. "Minority" means a person who is:
(1) Black, which is a person having origins in any of the black racial groups in Africa;
(2) Hispanic, which is a person of Spanish or Portuguese culture, with origins in Mexico, South or Central America, or the Caribbean islands, regardless of race;
(3) Asian American, which is a person having origins in any of the original people of the Far East, Southeast Asia, the Indian Subcontinent, Hawaii, or the Pacific Islands; or
(4) American Indian or Alaskan native, which is a person having origins in any of the original peoples of North America;
f. "Minority business" means a business which is:
(1) A sole proprietorship, owned and controlled by a minority;
(2) A partnership or joint venture owned and controlled by minorities in which at least 51% of the ownership interest is held by minorities and whose management and daily business operations are controlled by one or more of the minorities who own it; or
(3) A corporation or other entity the management and daily business operations of which are controlled by one or more minorities who own it, and which is at least 51% owned by one or more minorities, or, if stock is issued, at least 51% of the stock of which is owned by one or more minorities;
g. "Small business" means a sole proprietorship, partnership or corporation which is a size and type defined by the commissioner;
h. "Women's business" means a business which is:
(1) A sole proprietorship owned and controlled by a woman; or
(2) A partnership or joint venture owned and controlled by women in which at least 51% of the ownership is held by women; or
(3) A corporation or other entity the management and daily business operations of which are controlled by one or more women who own it, and which is at least 51% owned by women, or, if stock is issued, at least 51% of the stock of which is owned by one or more women.
L. 1987, c. 55, s. 2.