§ 171.204. Related party transactions.
(a) Related party transactions will be presented and disclosed in accordance with Generally Accepted Accounting Principles.
(b) Related parties include the following:
(1) Affiliates of the enterprise.
(2) Entities for which investments are accounted for by the equity method by the enterprise.
(3) Trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management.
(4) Principal owners of the enterprise and its management.
(5) Members of the immediate families of principal owners of the enterprise and its management.
(6) Other parties with which the enterprise may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.
(c) Another party also is a related party if it can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.
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