“Affiliate of the developer” defined. “Affiliate of the developer” means any person who controls, is controlled by or is under common control with a developer, including a person who:
1. Is a general partner, officer, director or employer of the developer;
2. Directly or indirectly or acting in concert with one or more other persons, or through one or more subsidiaries, owns, controls, holds with the power to vote, or holds proxies representing more than 20 percent of the voting interest in the developer;
3. Controls the election of a majority of the directors of the developer; or
4. Has contributed more than 20 percent of the capital of the developer.
Last modified: February 27, 2006