Terms Used In Indiana Code > Title 5 > Article 28 > Chapter 20 - Small and Minority Business Financial Assistance Program

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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.
• fund: refers to the small business development fund established by IC 5-28-18-7. See Indiana Code 5-28-20-2
• loan: means a direct loan from the fund. See Indiana Code 5-28-20-3
• minority business: means an individual, a partnership, a corporation, a limited liability company, or a joint venture of any kind that is owned and controlled by one (1) or more persons who are:

  Indiana Code 5-28-20-4

• minority group: means :

  Indiana Code 5-28-20-5

• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• owned and controlled: means having:

  Indiana Code 5-28-20-6

• 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.
• program: refers to the small and minority business financial assistance program established by section 9 of this chapter. See Indiana Code 5-28-20-7
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• small business: has the meaning set forth in IC 5-22-14-1. See Indiana Code 5-28-20-8
• Statute: A law passed by a legislature.
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• veteran: includes "Hoosier veteran" and applies to the construction of all Indiana statutes, unless the construction is expressly excluded by the terms of the statute, is plainly repugnant to the intent of the general assembly or of the context of the statute, or is inconsistent with federal law. See Indiana Code 1-1-4-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5