New Jersey Statutes 52:27H-21.18. Definitions
Terms Used In New Jersey Statutes 52:27H-21.18
- 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.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. “Control” means authority over the affairs of a business, including, but not limited to, capital investment, property acquisition, employee hiring, contract negotiations, legal matters, officer and director selection, operating responsibility, financial transactions and the rights of other shareholders or joint partners; except that control shall not include absentee ownership, nor shall it be deemed to exist where an owner or employee who is not a minority, in the case of a minority business; or a male owner or employee, in the case of a women’s business, is disproportionately responsible for the operation of the business or for policy and contractual decisions.
b. “Commissioner” means the Treasurer of the State of New Jersey.
c. “Director” means the Director of the Division of Revenue and Enterprise Services in the New Jersey Department of the Treasury.
d. “Division” means the Division of Revenue and Enterprise Services in the New Jersey Department of the Treasury.
e. “Minority” means a person who is:
(1) Black, which is a person having origins in any of the black racial groups in Africa; or
(2) Hispanic, which is a person with origins in Mexico, South or Central America, or the Caribbean Islands, regardless of race; or
(3) Asian American, which is a person having origins in any of the original peoples of the Far East, Southeast Asia, 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 the management and daily business operations of which are controlled by one or more of the minorities who own it; or
(3) A corporation or other entity whose management and daily business operations are controlled by one or more minorities who own it, and of which at least 51% of the legal beneficial ownership is held by one or more minorities.
g. “Public agency” means the State or any department, division, agency, authority, board, commission or committee thereof.
h. “Woman” or “women” means a female or females, regardless of race.
i. “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 and the management and daily business operations of which are controlled by one or more women who own it; or
(3) A corporation or other entity whose management and daily business operations are controlled by one or more women who own it, and of which at least 51% of the legal beneficial ownership is held by women.
j. “Applicant” means an individual or individuals, a sole proprietor, partnership, joint venture or corporation that applies for certification as a minority business or women’s business, in accordance with the provisions of P.L.1986, c.195 (C. 52:27H-21.17 et seq.).
L.1986,c.195,s.2; amended 2003, c.189, s.2; 2023, c.217, s.1.