§ 1400.2 Definitions.
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
For the purpose of this part:
(a) Minority business enterprise is defined in 15 U.S.C. 9501(9).
(b) Socially disadvantaged persons means those persons who have been subjected to cultural, racial or ethnic prejudice because of their identity as members of a group without regard to their individual qualities.
(c) Economically disadvantaged persons means those persons whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities because of their identity as members of a group without regard to their individual qualities, as compared to others in the same line of business and competitive market area.
(d) Person means a citizen of the United States or an alien lawfully admitted for permanent residence.
[49 FR 42698, Oct. 24, 1984, as amended at 89 FR 101467, Dec. 16, 2024]
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.