(1) The Oregon Business Development Department, in consultation with the Oregon Association of Minority Entrepreneurs, may approve a written development plan as part of a mentor relationship. The development plan must: (a) Clearly set forth the objectives and roles of the parties; (b) Be for a specified length of time; (c) Determine measurable goals that the disadvantaged business enterprise, minority-owned business, woman-owned business, veteran-owned business or emerging small business must reach; and (d) Provide that if a disadvantaged business enterprise, a minority-owned business, a woman-owned business, a veteran-owned business or an emerging small business uses a mentors resources in performing contracts or subcontracts for the mentor or for another contractor, the enterprise or business shall separately identify, account for and directly compensate the mentor for the resources. The department may closely monitor a development plan that provides that the enterprise or business will use the mentors resources extensively. (2) The development plan may also provide for the mentor to train the disadvantaged business enterprise, minority-owned business, woman-owned business, veteran-owned business or emerging small business. Training may include: (a) Business planning; (b) Record keeping; (c) Technical training; (d) Capital formation; (e) Loan packaging; (f) Financial counseling; (g) Bonding; and (h) Equipment utilization. (3) The Oregon Business Development Department and the Oregon Association of Minority Entrepreneurs may review the development plan annually to monitor progress. (4) The development plan must provide that the mentor relationship may be terminated by mutual consent or if: (a) An enterprise or a business no longer qualifies for certification under ORS 200.055 as a disadvantaged business enterprise, a minority-owned business, a woman-owned business, a veteran-owned business or an emerging small business; (b) Either party has failed or is unable to meet the partys obligations under the development plan; (c) The disadvantaged business enterprise, minority-owned business, woman-owned business, veteran-owned business or emerging small business is not progressing or is not likely to progress in accordance with the development plan; (d) The disadvantaged business enterprise, minority-owned business, woman-owned business, veteran-owned business or emerging small business has reached a satisfactory level of self-sufficiency to compete without resorting to special treatment provided in the development plan; or (e) The plan or provisions of the plan are contrary to the requirements of federal, state, or local law or regulation, or otherwise contrary to public policy. (5) The parties to the development plan, the Oregon Business Development Department and the Oregon Association of Minority Entrepreneurs shall retain copies of the plan. (6) The development plan may provide that either party may dissolve the plan for any reason by notifying the Oregon Business Development Department and the Oregon Association of Minority Entrepreneurs.
‹ Prev All Oregon sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.