Control means, for purposes of 242.900 through 242.909, the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. A person is presumed to control another person if the person:
(1) Is a director, general partner or officer exercising executive responsibility (or having similar status or functions);
(2) Directly or indirectly has the right to vote 25 percent or more of a class of voting securities or has the power to sell or direct the sale of 25 percent or more of a class of voting securities; or
(3) In the case of a partnership, has the right to receive, upon dissolution, or has contributed, 25 percent or more of the capital.


17 CFR § 242.900

Scoping language

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