### Question
How is the term substantial owner defined?


### Answer
The term **substantial owner** is defined in *29 U.S.C. § 1322* as the following:

> an individual who—


(i) owns the entire interest in an unincorporated trade or business,


(ii) in the case of a partnership, is a partner who owns, directly or indirectly, more than 10 percent of either the capital interest or the profits interest in such partnership, or


(iii) in the case of a corporation, owns, directly or indirectly, more than 10 percent in value of either the voting stock of that corporation or all the stock of that corporation

#### Citation:
  - *29 U.S.C. § 1322*
  - Heading: **CHAPTER 17-COMPREHENSIVE EMPLOYMENT AND TRAINING PROGRAMS > SUBCHAPTER III-PLAN TERMINATION INSURANCE > Subtitle B-Coverage**

