25 CFR § 502.17 - Person having a direct or indirect financial interest in a management contract.

---
identifier: "/us/cfr/t25/s502.17"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "25 CFR § 502.17 - Person having a direct or indirect financial interest in a management contract."
title_number: 25
title_name: "Indians"
section_number: "502.17"
section_name: "Person having a direct or indirect financial interest in a management contract."
chapter_name: "NATIONAL INDIAN GAMING COMMISSION, DEPARTMENT OF THE INTERIOR"
subchapter_number: "A"
subchapter_name: "GENERAL PROVISIONS"
part_number: "502"
part_name: "DEFINITIONS OF THIS CHAPTER"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "25 U.S.C. 2701"
regulatory_source: "57 FR 12392, Apr. 9, 1992, unless otherwise noted."
cfr_part: "502"
---


# 502.17 Person having a direct or indirect financial interest in a management contract.

*Person having a direct or indirect financial interest in a management contract* means:

(a) When a person is a party to a management contract, any person having a direct financial interest in such management contract;

(b) When a trust is a party to a management contract, any beneficiary or trustee;

(c) When a partnership is a party to a management contract, any partner;

(d) When a corporation is a party to a management contract, any person who is a director or who holds at least 5% of the issued and outstanding stock alone or in combination with another stockholder who is a spouse, parent, child or sibling when the corporation is publicly traded or the top ten (10) shareholders for a privately held corporation;

(e) When an entity other than a natural person has an interest in a trust, partnership or corporation that has an interest in a management contract, all parties of that entity are deemed to be persons having a direct financial interest in a management contract; or

(f) Any person or entity who will receive a portion of the direct or indirect interest of any person or entity listed above through attribution, grant, pledge, or gift.

[74 FR 36932, July 27, 2009]