Missouri Laws 37.013 – Definitions
As used in this section and section 37.014:
(1) “Commission” refers to the Missouri minority business advocacy commission established under section 37.014;
Terms Used In Missouri Laws 37.013
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- United States: includes such district and territories. See Missouri Laws 1.020
(2) “Contract” means any contract awarded by a state agency for construction projects or the procurement of goods or services, including professional services;
(3) “Minority business enterprise” or “minority business” means an individual, partnership, corporation, or joint venture of any kind that is owned and controlled by one or more persons who are:
(a) United States citizens; and
(b) Members of a racial minority group;
(4) “Owned and controlled” means having:
(a) Ownership of at least fifty-one percent of the enterprise, including corporate stock of a corporation;
(b) Control over the management and day-to-day operations of the business; and
(c) An interest in the capital, assets, and profits and losses of the business proportionate to the percentage of ownership;
(5) “Racial minority group” means:
(a) Blacks;
(b) American Indians;
(c) Hispanics;
(d) Asian Americans; and
(e) Other similar racial minority groups;
(6) “State agency” refers to an authority, board, branch, commission, committee, department, division, or other instrumentality of the executive branch of state government.