Terms Used In Indiana Code 15-21-1-6

  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
   Sec. 6. “Person” means an individual, corporation, limited liability company, partnership, or other business entity.

As added by P.L.111-2009, SEC.4.