Terms Used In Indiana Code 25-30-1.3-4

  • 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. 4. As used in this chapter, “person” means an individual, a firm, a company, an association, an organization, a partnership, or a corporation.

As added by P.L.185-2007, SEC.27.