Sec. 3. (a) “Acting in concert” means:

(1) knowing participation in a joint activity or interdependent conscious parallel action towards a common goal, whether or not under an express agreement; or

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Terms Used In Indiana Code 28-6.2-1-3

  • Contract: A legal written agreement that becomes binding when signed.
  • director: refers to the director of the department of financial institutions. See Indiana Code 28-6.2-1-9
  • Trustee: A person or institution holding and administering property in trust.
(2) a combination of pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding, relationship, agreement, or other arrangement, whether written or otherwise.

     (b) A person or company that acts in concert with another person or company is acting in concert with any person or company who is also acting in concert with that other party, except that:

(1) an employee stock benefit plan is not acting in concert with its trustee or a person who serves in a similar capacity solely for the purpose of determining whether stock held by the trustee and stock held by the plan will be aggregated; and

(2) no officer or director of a savings bank or savings bank affiliate is acting in concert with any other officer or director of the savings bank or affiliate by reason of the service of the officer or director in those capacities.

As added by P.L.122-1994, SEC.101.

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