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Code of Federal Regulations Title 2. Grants and Agreements § 2.3485.995 Principal

Current as of October 02, 2022 | Updated by FindLaw Staff

Principal means—

(a) An officer, director, owner, partner, principal investigator, or other person within a participant with management or supervisory responsibilities related to a covered transaction;  or

(b) A consultant or other person, whether or not employed by the participant or paid with Federal funds, who—

(1) Is in a position to handle Federal funds;

(2) Is in a position to influence or control the use of those funds;  or

(3) Occupies a technical or professional position capable of substantially influencing the development or outcome of an activity required to perform the covered transaction.

(c) For the purposes of Department of Education title IV, HEA transactions—

(1) A third-party servicer, as defined in 34 CFR 668.2 or 682.200;  or

(2) Any person who provides services described in 34 CFR 668.2 or 682.200 to a title IV, HEA participant, whether or not that person is retained or paid directly by the title IV, HEA participant.

(Authority:  E.O. 12549 (3 CFR 1986 Comp., p.189);  E.O. 12689 (3 CFR 1989 Comp., p.235);  sec. 2455, Pub.L. 103–355, 108 Stat. 3327 (31 U.S.C. 6101 note);  20 U.S.C. 1082, 1094, 1221e–3, and 3474)

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Cite this article: FindLaw.com - Code of Federal Regulations Title 2. Grants and Agreements § 2.3485.995 Principal - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-2-grants-and-agreements/cfr-sect-2-3485-995/

Read this complete Code of Federal Regulations Title 2. Grants and Agreements § 2.3485.995 Principal on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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