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majority-controlled producer-based business venture

Defined in 1 place of the United States Code.

The term "majority-controlled producer-based business venture" means a venture greater than 50 percent of the ownership and control of which is held by—

(i) 1 or more producers; or

(ii) 1 or more entities, 100 percent of the ownership and control of which is held by 1 or more producers.

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