Controlled Business

[Arookaria]

Currently studying for life exam. Does "controlled business" include family members?
If so, what if they don't live with you?
Manual says selling to friends and neighbors is not "controlled business" buts says nothing about family

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[VolAgent]

Its only a problem is that is all your business. If you are actively marketing you will have plenty of clients you aren't related to so it will all balance out.

 

[Arookaria]

Ok thank you volagent for the response!

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[VolAgent]

And for the test, family is controlled business. Also, any business in which you have a controlling interest is also controlled business. Some states may expand that definition to any business you have an ownership stake in or hold an executive position in.