Indiana Code 9-32-2.1-12. “Dealer owner”
Current as of: 2024 | Check for updates
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Sec. 12. “Dealer owner” means the following:
(A) If a corporation, each officer, director, and shareholder having a ten percent (10%) or greater ownership interest in the corporation.
(1) For a transport operator, a licensed dealer, or an applicant dealer, other than a manufacturer, the following:
Terms Used In Indiana Code 9-32-2.1-12
- 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.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- 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.
(B) If a corporation and it has no officer, director, or shareholder having a ten percent (10%) or greater ownership interest in the corporation, one (1) or more officers, directors, or shareholders designated in writing by the board of directors.
(C) If a sole proprietorship, the proprietor.
(D) If a partnership, each partner.
(E) If a limited liability company, each member of the company.
(2) For a licensed or applicant manufacturer, one (1) or more officers, directors, or shareholders designated in writing by the manufacturer.
As added by P.L.104-2024, SEC.31.