§ 143B-472.101. Definitions. - North Carolina Statutes

§ 143B‑472.101. Definitions.

The following definitionsapply in this Part:

(1)        Authority. – TheNorth Carolina Small Business Contractor Authority created in this Part.

(2)        Internal RevenueCode. – The Code as defined in G.S. 105‑228.90.

(3)        Contract term. – Theterm of a contract, including the maintenance or warranty period required bythe contract and the period during which the surety may be liable for latentdefects.

(4)        Government agency. –The federal government, the State, an agency, or a political subdivision of thefederal government or the State, or a utility regulated by the North CarolinaUtilities Commission.

(5)        Related party. – Aparty related to the applicant in a manner that would require an attribution ofstock to or from the party under section 318 of the Internal Revenue Code.

(6)        Secretary. – TheSecretary of Commerce. (2007‑441, s. 1.)