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§ 85.45b. Definitions

Oklahoma Statutes AnnotatedTitle 74. State Government

Oklahoma Statutes Annotated
Title 74. State Government (Refs & Annos)
Chapter 4. Department of Central Services
Oklahoma Minority Business Enterprise Assistance Act
74 Okl.St.Ann. § 85.45b
§ 85.45b. Definitions
Currentness
For purposes of the Oklahoma Minority Business Enterprise Assistance Act:
1. “Minority” means a person who is a lawful resident of the State of Oklahoma and who is:
a. Black (a person having origins in any of the black racial groups of Africa),
b. Hispanic (a person of Mexican, Puerto Rican, Cuban, Central or South American descent),
c. Asian American (a person having origins in any of the original peoples of the Far East, Southeast Asia, the Indian subcontinent, or the Pacific Islands), or
d. American Indian and Alaskan Native (a person having origins in any of the original peoples of North America);
2. “Minority business enterprise” means a small business concern, as defined pursuant to Section 3 of the Small Business Act1 and implementing regulations, which is owned and controlled by one or more minorities and is authorized to do and is doing business under the laws of this state, paying all taxes duly assessed, and domiciled within this state. “Owned and controlled” means a business:
a. which is at least fifty-one percent (51%) owned by one or more minorities or, in the case of a publicly owned business, at least fifty-one percent (51%) of all classes or types of the stock is owned by one or more minorities, and
b. whose management and daily business operations are controlled by one or more such individuals;
3. “Office” means the Office of Management and Enterprise Services; and
4. “Person” means an individual, sole proprietorship, partnership, association, or corporation.

Credits

Laws 1987, c. 191, § 4, operative July 1, 1987; Laws 2012, c. 304, § 758.

Footnotes

1
15 U.S.C.A. § 632.
74 Okl. St. Ann. § 85.45b, OK ST T. 74 § 85.45b
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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