§ 32-22-3-3.5 — "Prohibited person"

Indiana § 32-22-3-3.5

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 22: CONVEYANCE LIMITATIONS OF REAL
• Ch. 3: Rights of a Foreign Business Entity to Hold and Convey

Text

5. As used in this chapter, "prohibited person"
includes:
(1) an individual who is a citizen of a foreign adversary (as
defined in 15 CFR 791.4); or
(2) a business entity that is:
(A) wholly owned by, or the majority of stock or other
ownership interest of the business entity is held or controlled
by:
(i) individuals who are citizens of a foreign adversary (as
defined in 15 CFR 791.4); or
(ii) a business entity or another entity, including a
governmental entity, that is owned or controlled by citizens
of, or is directly controlled by the government of, a foreign
adversary (as defined in 15 CFR 791.4); or
(B) headquartered in a foreign adversary (as defined in 15 CFR
791.4).
The term, as used in subdivisions (1) and (2)(A)(i), does not include an
individual who holds dual citizenship with a foreign adversary (as
defined in 15 CFR 791.4) and the United States or an individual who
is a lawful permanent resident of the United States.

Legislative History

As added by P.L.168-2024, SEC.4. Amended by P.L.116-2025, SEC.6.