Section 64-52 - DefinitionsAs used in this Article, the following definitions apply:
(1) Adversarial foreign government. - A state-controlled enterprise or the government of a foreign nation that has received a designation under 15 C.F.R. § 7.4 from a determination by the United States Secretary of Commerce that the entity has engaged in a long-term pattern or serious instances of conduct significantly adverse to the national security of the United States or security and safety of United States persons.(2) Controlling interest. - Possession of more than fifty percent (50%) of the ownership interest in an entity. The term also includes possession of fifty percent (50%) or less of the ownership interest in an entity if an owner directs the business and affairs of the entity without the requirement or consent of any other party.(3) High purity quartz. - A mineral made of silicon dioxide and containing fewer than 50 parts per million of impurity elements.(4) Interest. - Any estate, remainder, or reversion, or any portion of the estate, remainder, or reversion, or an option pursuant to which one party has a right to cause the transfer of legal or equitable title to land covered by G.S. 64-53(a); or ownership or partial ownership of a mining operation covered under G.S. 64-53(a).(5) State-controlled enterprise. - A business enterprise, however denominated, in which a foreign government has a controlling interest.Added by 2024 N.C. Sess. Laws 45,s. 10-a, eff. 6/28/2024, applicable only to ownership interests acquired on and after that date.