154.12.325 Definitions for KRS 154.12-325 and 154.12-330. - Kentucky Statutes

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Page 1 of 1 154.12-325 Definitions for KRS 154.12-325 and 154.12-330. As used in KRS 154.12-325 and 154.12-330:
(1) "Affiliate" has the same meaning as provided in KRS 154.22-010(2);
(2) "Full-time employee" means a person employed for a minimum of thirty-five (35) hours per week and subject to the tax imposed by KRS 141.020; (3) "Service or technology" has the same meaning as provided in KRS 154.24-010(19) and shall include regional or headquarters operations of an entity engaged in the
defined activities, but shall not include work involving direct service to the public
pursuant to a license issued by the state or an association that issues licenses in lieu
of the state; and (4) "Small business" means any business entity organized for profit, including a sole proprietorship, partnership, limited partnership, corporation, limited liability
company, joint venture, association, or cooperative, that has fifty (50) or fewer full-
time employees at the time it applies for a loan under KRS 154.12-330 and is not an
affiliate or subsidiary of a larger corporate structure, unless the total number of
employees of all the affiliates and subsidiaries within that structure is fifty (50) or
fewer. Effective: July 12, 2006
History: Amended 2006 Ky. Acts ch. 149, sec. 212, effective July 12, 2006. -- Created 2005 Ky. Acts ch. 158, sec. 1, effective June 20, 2005.