§ 10A-120. Statement of ownership.

(a)

The Purchasing Agent shall advise each and every business when responding to a Solicitation on the part of the County that the award of any contract shall be conditioned on the individual providing a statement of the ownership of the said business entity which shall contain the following:

(1)

A statement by the business entity or its authorized representative listing the name or names as well as the business and residence addresses of all those individuals having a ten percent (10%) financial interest in the business entity;

(2)

If the business entity is a corporation, there shall be filed instead, a statement listing the officers of the corporation, their business and residence addresses, the date on which they assumed their respective offices, a list of the members of the current Board of Directors, their business and residence addresses, as well as the date on which each director assumed his office and the date on which his term as a director shall expire (if any); and

(3)

Further, if the business entity is a corporation, in addition to the requirements set forth in paragraph (1), above, the business entity must file a statement containing the names and residence addresses of those individuals owning at least ten percent (10%) of the shares of any class of corporate security, including but not limited to stocks of any type or class and serial maturity bonds of any type or class.

(b)

Any statement filed with the Purchasing Agent pursuant to this Section shall be valid for a period of one (1) year from the date it is filed, provided that the information contained therein is updated as necessary upon the award of any subsequent contract.

(c)

No contract shall be finally awarded unless there has been compliance with the provisions of this Section.

(CB-1-1992)