A business enterprise shall be eligible for certification as a veteran-owned business enterprise if the business enterprise:
(1) Is a local business enterprise;
(2) Is not less than 51% owned and operated by one of more veterans (as defined in 38 U.S.C. § 101(2));
(3) In the case of any publicly owned business, not less than 51% of the stock of which is owned by one or more veterans; and
(4) One or more veterans control the management and daily operations.