Indiana Code 13-20-2-3. Financial statement by parent satisfactory for subsidiary in certain instances
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Terms Used In Indiana Code 13-20-2-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 3. If the applicant is a subsidiary corporation, the submission of the statement of financial position of the ultimate parent satisfies the requirement under section 1 of this chapter if the applicant has been a subsidiary of the parent for at least one (1) year before the submission of the statement of financial position.
[Pre-1996 Recodification Citation: 13-7-22-2(e).]
As added by P.L.1-1996, SEC.10.