Terms Used In Indiana Code 25-36.5-1-1

• Buying: means acquiring an interest in property by the payment of a price, value, or other consideration. See Indiana Code 25-36.5-1-1
• 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.
• Department: means the department of natural resources. See Indiana Code 25-36.5-1-1
• Director: means the director of the department of natural resources. See Indiana Code 25-36.5-1-1
• 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.
• Person: means an individual, partnership, firm, association, business trust, limited liability company, or corporation. See Indiana Code 25-36.5-1-1
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• Timber: means trees, standing or felled, and logs which can be used for sawing or processing into lumber for building or structural purposes or for the manufacture of any article. See Indiana Code 25-36.5-1-1
• Timber buyer: means a person engaged in the business of buying timber from timber growers for sawing into lumber, processing, or resale, but does not include a person who occasionally purchases timber for sawing or processing for his own use and not for resale. See Indiana Code 25-36.5-1-1
• Timber grower: means the owner, tenant, or operator of land in this state who has an interest in, or is entitled to receive any part of the proceeds from, the sale of timber grown in this state and includes persons exercising lawful authority to sell timber for a timber grower. See Indiana Code 25-36.5-1-1