"Business owned and operated by a veteran with a service-connected disability" means a business:
1. Of which at least 51 percent of the ownership interest is held by one or more veterans with service-connected disabilities;
2. That is organized to engage in commercial transactions; and
3. That is managed and operated on a day-to-day basis by one or more veterans with service-connected disabilities.
The term includes a business which meets the above requirements that is transferred to the spouse of a veteran with a service-connected disability upon the death of the veteran, as determined by the United States Department of Veterans Affairs.
(Added to NRS by 2009, 2668; A 2015, 560)