Tenn. Comp. R. & Regs. 1680-08-01-.09 - DISCLOSURE AFFIDAVIT

In order to evaluate the legitimacy of each DDE applicant, it is required that certain relevant information be provided initially, prior to award, and be continually updated throughout contract performance. This information must include statements clearly identifying and explaining the extent of the DBE ownership and control including, but not limited to, the information items on this form. All information items must be furnished or properly addressed before the business entity can be evaluated.

Definitions:

Disadvantaged Business means a small business concern:

(a) which is at least fifty-one (51%) percent owned by one or more socially and economically disadvantaged individuals, or, in the case of any publicly owned business, at least fifty-one (51%) percent of the stock of which is owned by one or more socially and economically disadvantaged individuals; and

(b) whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individuals who own it.

Socially and Economically Disadvantaged Individuals means those individuals who are citizens of the United States (or lawfully admitted permanent residents) and who are women, Black Americans, Hispanic Americans, Native Americans, Asian-Pacific Americans, or Asian-Indian Americans and any other minorities or individuals found to be disadvantaged by the small business administration pursuant to Section 8 (a) of the Small Business Act.

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For A Corporation		FOR A PARTNERSHIP
a.	Last two year's financial statement prepared by an independent CPA or accountant	a.	Last two year's financial statement prepared by an independent CPA or accountant
b.	Prior two years federal corporate tax returns including all schedules	b.	Prior two years federal corporate tax returns including all schedules
c.	Resumes of principals of your company showing education, training and employment with dates	c.	Resumes of all partners showing education, training and employment with dates
d.	License to do business in Tennessee and any other necessary licenses	d.	License to do business in Tennessee
e.	Articles of Incorporation, including date approved by State, and any subsequent amendments	e.	Partnership agreement
f.	Minutes of first corporate organizational meeting	f.	Buy out rights agreement
g.	Corporation By-Laws	g.	Profit sharing agreement
h.	Copy of stock certificate(s) issued (not a specimen copy)	h.	Proof of capital invested
i.	Stock ledger	i.	If other than Female or Black, proof of minority status
j.	Proof of stock purchase
k.	Copies of third party agreements such as rental or management service agreements, etc.
l.	If other than Female or Black, proof of minority status
In addition, for both corporation and partnership, submit all agreements relating to:
a.	Stock options	e.	Stockholders voting rights
b.	Ownership options	f.	Restrictions on the disposal of stock loan agreements
c.	Stockholders agreements	g.	Facts pertaining to the value of shares
d.	Buy-out fights	h.	Ownership of voting securities

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Notes

Tenn. Comp. R. & Regs. 1680-08-01-.09

Original rule filed September 19, 1984; effective October 19, 1984. Amendment filed January 23, 1987; effective March 9, 1987. (Formerly numbered 1680-8-1-.07). Amendment filed November 30, 1988; effective January 14, 1989.

Authority: T.C.A. §§ 4-3-2303(2) and 54-1-124; 49 CFR Part 23 ; Public Acts of 1984, Chapter 737.