Definitions for "Disqualified Person"
Disqualified persons are those whose proximity to the foundation trustees prevents their participating in certain foundation activities, such as receiving grants or having business relationships. Examples of disqualified persons are donors to the foundation, trustees, certain government officials, the children, parents and spouses of trustees or other disqualified persons. Representatives of corporations or partnerships in which a disqualified person has invested significantly are similarly disallowed. While disqualified persons may provide certain services to the foundation for reasonable compensation, in general the law prohibits most transactions between foundations and disqualified persons. This is the case even if the transaction benefits the foundation. See also "self dealing" and "reasonable compensation."
a member of category of individuals who are prohibited by law from participating in financial transactions with a foundation
an individual, a general partnership, a professional corporation or another entity that for any reason is or becomes ineligible to be issued shares by a professional corporation
Keywords:  catch, phrase, rules, new, general
a general catch-all phrase in the new rules