“Principal” means:

1. (a) Each officer, partner, or trustee of the declarant, or person occupying similar status or performing similar functions;

2. (b) Each natural person:

   1. (1) Who is a real party in interest having more than a 10 percent ownership;
   2. (2) Who has a beneficial interest in the declarant; or
   3. (3) Having more than a 20 percent ownership or beneficial interest in any entity that has a majority direct or majority beneficial interest in the declarant; or
3. (c) Any other person that the bureau reasonably determines should be treated as a principal for purposes of submitting information required by Jus 1405.03.

Source. (See Revision Note at chapter heading for Jus 1400) #9783-A, eff 9-11-10, EXPIRED: 9-11-18 New. #12657, INTERIM, eff 11-1-18, EXPIRED: 4-30-19 New. #12910, eff 10-24-19