Vermont Statutes Title 33. Human Services, § 3518. Child care provider ownership disclosure

(1) “Affiliate” means a person that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or control with another person.

(2) “Controls,” “is controlled by,” and “under common control” mean the power to direct, or cause the direction or management and policies of a person, whether through the direct or beneficial ownership of voting securities, by contract, or otherwise. A person who directly or beneficially owns 10 percent or more equity interest, or the equivalent thereof, of another person shall be deemed to control the person.

(3) “Licensee” means a person that the Department approves to receive Child Care Financial Assistance Program funding for child care services pursuant to a provider rate agreement.

(4) “Principal” means one of the following:

(1) the type of business organization of the licensee;

(2) the identity of the licensee's owners and principals; and

(3) the identity of the owners and principals of the licensee's affiliates.