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Terms Used In Indiana Code 23-1.3-1-3

  • 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.
  • Statute: A law passed by a legislature.
   Sec. 3. This article does not affect a statute or rule of law that is applicable to a corporation that is not a benefit corporation.

As added by P.L.93-2015, SEC.3.