Okla. Admin. Code § 150:155-1-4

Current through Vol. 42, No. 7, December 16, 2024

Section 150:155-1-4 - Applications; contents

(a) Any business seeking certification as a Diverse Business Enterprise may submit an application to the Department on forms or otherwise in a format furnished by the Department.

(b) The application may request the following information:

(1) A complete business history of the enterprise. This may include, as applicable, copies of organizational documents such as the minutes of the first organizational meeting, partnership agreements, articles of incorporation, stock certificates and corporate bylaws or business statement of sole proprietor.

(2) A listing of all principals and the percentages of ownerships and resumes of all principals, key managers and key personnel.

(3) Current financial statements of the business, latest business income tax returns, proof of investment by principals, bank resolution on all company accounts, loan agreements, lease/rental agreements and other information as may be necessary to verify control or ownership.

(4) Any additional information reasonably necessary for the Department to determine whether the business qualifies for certification under the rules of this chapter.

(c) As part of the application, the Department may demand that an applicant provide photocopies of any documentation the Department deems reasonable to determine if a business is an Eligible Entity.

(d) Incomplete or improperly completed applications may be returned to the applicant without further consideration.

(e) Within a reasonable time of having received a qualifying application and all supporting documents, the Department may notify a qualifying company that they are certified as a Diverse Business Enterprise and informing them of the length of their certification.

Okla. Admin. Code § 150:155-1-4

Adopted by Oklahoma Register, Volume 39, Issue 08, January 3, 2022, eff. 11/30/2021

Adopted by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/11/2022