Corporate Partner Dennis Garvey
Corporate PartnerForum Replies Created
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Yeah, I was thinking the indirect ownership aspect of the rule would reach the folks you were trying to include. It might be that further definition is needed to capture everyone.
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Directions: An “Owner” is a person or business entity which owns 5% or more of the assets, stock or profits of the Provider Entity. This 5% may be Direct ownership or Indirect ownership i.e, an individual might own 50% of a company that owns the actual Provider Entity meaning their indirect ownership is 50%. In addition to ownership of stock, an Owner is also a person who owns a legal obligation like a mortgage or loan that is secured by the assets of the Provider Entity.