"Owned and controlled"

Ind. Code § 5-28-20-6
in effect
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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. As added by P.L.4-2005, SEC.34.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026

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