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Ind. Code § 5-28-20-6

"Owned and controlled"

Indiana · Indiana Code Title 5 — State and Local Administration · Status: effective

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Ind. Code § 5-28-20-6, "Owned and controlled", Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1609698
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Sec. 6. As used in this chapter, "owned and controlled" means having: (1) ownership of at least fifty-one percent (51%) of the enterprise, including corporate stock of a corporation; (2) control over the management and being active in the day to day operations of the business; and (3) an interest in the capital, assets, and profits and losses of the business proportionate to the percentage of ownership.