IC 28-6.2-1-6 "Company" Defined

• Library: Indiana Statutes
• Edition: 2023
• Currency: Current through P.L. 255-2023
• Year: 2023
• Citation: IC 28-6.2-1-6

(a) "Company" means:

(1) any corporation, partnership, business trust, joint venture, association, or similar organization; or

(2) any other trust, unless by its terms it must terminate:

(A) within twenty-five (25) years; or

(B) not later than twenty-one (21) years and ten (10) months after the death of any individual living on the effective date of the trust.

(b) As used in subsection (a)(1), "similar organization" means a combination of parties with the potential for or practical likelihood of a continuing rather than temporary existence, in which the parties have knowingly and voluntarily associated for a common purpose in identifiable and binding relationships that govern the parties with respect to either: