Ohio Code 150.051 – Annual report regarding minority business enterprises
(A) As used in this section:
Terms Used In Ohio Code 150.051
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority: means the Ohio venture capital authority created under section 150. See Ohio Code 150.01
- 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: means the state of Ohio. See Ohio Code 1.59
- United States: includes all the states. See Ohio Code 1.59
(1) “Minority business enterprise” has the meaning defined in section 122.71 of the Revised Code.
(2) “Women’s business enterprise” means a business, or a partnership, corporation, limited liability company, or joint venture of any kind, that is owned and controlled by women who are United States citizens and residents of this state.
(B) The Ohio venture capital authority shall submit annually to the governor and to the general assembly (under section 101.68 of the Revised Code) a report containing the following information:
(1) The name of each program administrator that is a minority business enterprise or a women’s business enterprise with which the authority contracts;
(2) The amount of assets managed by program administrators that are minority business enterprises or women’s business enterprises, expressed as a percentage of assets managed by program administrators with which the authority has contracted.
(3) Efforts by the authority to increase utilization of program administrators that are minority business enterprises or women’s business enterprises.