§ 5-28-20-6 — "Owned and controlled"

Indiana § 5-28-20-6

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 20: Small and Minority Business Financial Assistance

Text

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.

Legislative History

As added by P.L.4-2005, SEC.34.