What is a control person?
A control person is an individual with significant responsibility to control, manage or direct the entity. A control person may include, but is not limited to the: Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, Treasurer, Executive Director/Director of a government agency or any other individual who regularly performs similar functions. Under federal law (31 C.F.R. § 1010.230(d)(2)), the control person must have the authority to make binding commitments on behalf of the entity.
