Indiana Code 21-34-1-20. “Risk retention group”
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Terms Used In Indiana Code 21-34-1-20
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Sec. 20. “Risk retention group” means a trust, pool, corporation, partnership, or joint venture funded by and owned and operated for the benefit of more than one (1) eligible member.
[Pre-2007 Higher Education Recodification Citation: 20-12-6-1.2(b)(3).]
As added by P.L.2-2007, SEC.275.