Indiana Statutes
§ 23-1-43-8 — "Control" defined
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 1 INDIANA BUSINESS CORPORATION LAW·Ch. 43 Business Combinations
(a)As used in this chapter, "control", including
the terms "controlling", "controlled by", and "under common control
with", means the possession (directly or indirectly) of the power to
direct or cause the direction of the management and policies of a
person, whether through the ownership of voting securities, by contract,
or otherwise.
(b)A person's beneficial ownership of ten percent (10%) or more of
the voting power of a corporation's outstanding voting shares creates
a presumption that the person has control of the corporation.
(c)Notwithstanding subsections (a) and (b), a person is not
considered to have control of a corporation if the person holds voting
power, in good faith and not for the purpose of circumventing this
chapter, as an agent, bank, broker, nominee, custodian, or tr
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Legislative History
As added by P.L.149-1986, SEC.27.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"