Indiana Code 24-5-12-5. “Principal” defined
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Terms Used In Indiana Code 24-5-12-5
- owner: means a person who owns or controls ten percent (10%) or more of the equity of a seller, or otherwise has a claim to ten percent (10%) or more of the net income of a seller. See Indiana Code 24-5-12-3
- Trustee: A person or institution holding and administering property in trust.
Sec. 5. As used in this chapter, “principal” means an owner, an officer, a general partner, a trustee, or other individual with supervisory functions usually exercised by those persons.
As added by P.L.253-1987, SEC.1.