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03-01-1984 Industrial Development Corporation Board of Directors Meeting (2)
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03-01-1984 Industrial Development Corporation Board of Directors Meeting (2)
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City Meetings
Meeting Body
Industrial Development Corporation
Meeting Doc Type
Minutes
Date
3/1/1984
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• . <br />trust, (iv) a beneficiary of another trust (if any <br />other person is a grantor of both trusts), or (v) a <br />corporation more than 50% of value of the <br />outstanding stock of which is owned, directly or <br />indirectly, by or for the trust or by or for a <br />person who is a grantor of the trust. <br />g. In the case of tax-exempt organizations, a person <br />and an educational and charitable organization <br />exempt from tax which is controlled directly or <br />indirectly by such person or (if such person is an <br />individual) by members of the family of such <br />individual. <br />For purposes of subparagraph (c), (i) a partnership <br />interest owned, directly or indirectly, by or for a <br />corporation, partnership, estate or trust, shall be <br />considered as being owned proportionately by or for its <br />shareholders, partners, or beneficiaries and (ii) an <br />individual shall be considered as owning a partnership <br />interest owned, directly or indirectly, by or for his <br />family (as described in subparagraph (d) above). For <br />purposes of subparagraphs (e), (f) and (g), the foregoing <br />constructive ownership rule applies and, in addition, an <br />individual owning any stock in a corporation shall be <br />considered as owning the stock owned, directly or <br />indirectly, by or for his partner. Stock constructively <br />owned by a person through attribution from his <br />partnership, corporation, estate, or trust shall be <br />treated as actually owned by such person for purposes of <br />further attribution but stock constructively owned by an <br />individual by reason of application of the family or <br />partner attribution rules shall not be treated as owned <br />by him for purposes of further attribution. <br />Please furnish a brief ownership description which <br />supports your conclusion to include or exclude any person <br />as a Related Person for purposes of this Questionnaire. <br />Process products is a joint venture. <br />Mr. Ron Rosier and Mr. Wes Fox own 51% of the stock. <br />Plant Specialties, Inc. own the remaining 49% interest. <br />-5- <br />
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