Indiana Statutes
§ 5-28-20-6 — "Owned and controlled"
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 20 Small and Minority Business Financial Assistance
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.
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Legislative History
As added by P.L.4-2005, SEC.34.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" defined