A Principal Owner is any individual or entity meeting the following thresholds or roles for the applicable business form:
- Publicly Traded Corporation – 10% or more ownership
- Private or Closed Corporation – 25% or more ownership
- Limited Liability Company – All Members
- Partnerships – All Partners
For additional information see Handbook 4000.1 I.A.3.c.iv.(A)(1) at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh.