Sec. 16. “Interest” means:

(1) a share in a business corporation;

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Terms Used In Indiana Code 23-0.5-1.5-16

  • 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.
(2) a membership in a nonprofit corporation; or

(3) a governance interest or economic interest in any other type of unincorporated entity.

As added by P.L.118-2017, SEC.5. Amended by P.L.52-2018, SEC.1.

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