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Terms Used In Indiana Code 24-4-23-6

  • 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. 6. “Person” means a human being, a corporation, a limited liability company, a partnership, an unincorporated association, or a governmental entity.

As added by P.L.98-2024, SEC.1.