### Question
How does the law define management official?


### Answer
Under *15 U.S.C. § 687e*, **management official** is defined as:

> an officer, director, general partner, manager, employee, agent, or other participant in the management or conduct of the affairs of a licensee

#### Citation:
  - *15 U.S.C. § 687e*
  - Heading: **CHAPTER 14B-SMALL BUSINESS INVESTMENT PROGRAM > SUBCHAPTER III-INVESTMENT DIVISION PROGRAMS > Part A-Small Business Investment Companies**

