That said, the control prong is not about a controlling interest, which has to do with whether one owner can control the election of directors, etc, because of the percentage of ownership. A control prong person is someone who runs the business day-to-day, and doesn't even have to be an owner. Sure, a control person may be an owner, and often is. But it's not always the case.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8