Indiana Code 5-28-20-6. “Owned and controlled”
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Sec. 6. As used in this chapter, “owned and controlled” means having:
(2) control over the management and being active in the day to day operations of the business; and
(1) ownership of at least fifty-one percent (51%) of the enterprise, including corporate stock of a corporation;
Terms Used In Indiana Code 5-28-20-6
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
(3) an interest in the capital, assets, and profits and losses of the business proportionate to the percentage of ownership.
As added by P.L.4-2005, SEC.34.