IC 28-6.2-1-5 "Associate" Defined

• Library: Indiana Statutes
• Edition: 2023
• Currency: Current through P.L. 255-2023
• Year: 2023
• Citation: IC 28-6.2-1-5

"Associate", when indicating a relationship between persons, means:

(1) any corporation or organization, other than the applicant or a majority-owned subsidiary of the applicant, of which the person:

(A) is an officer or a partner; or

(B) is directly or indirectly the beneficial owner of ten percent (10%) or more of any class of equity securities;

(2) any trust or other estate:

(A) in which the person has a substantial beneficial interest; or

(B) for which the person serves as trustee or in a similar fiduciary capacity;