Terms Used In Indiana Code 5-2-6.1-6

  • 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.
  • Fiduciary: A trustee, executor, or administrator.
  • 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. As used in this chapter, “person” includes a sole proprietorship, a partnership, a corporation, an association, a fiduciary, and an individual.

As added by P.L.47-1993, SEC.2.