Sec. 3.5. As used in this chapter, “prohibited person” includes:

(1) an individual who is a citizen of a foreign adversary (as defined in 15 C.F.R. § 7.4); or

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Terms Used In Indiana Code 32-22-3-3.5

  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(2) a business entity that is:

(A) wholly owned by, or the majority of stock or other ownership interest of the business entity is held or controlled by:

(i) individuals who are citizens of a foreign adversary (as defined in 15 C.F.R. § 7.4); or

(ii) a business entity or another entity, including a governmental entity, that is owned or controlled by citizens of, or is directly controlled by the government of, a foreign adversary (as defined in 15 C.F.R. § 7.4); or

(B) headquartered in a foreign adversary (as defined in 15 C.F.R. § 7.4).

The term, as used in subdivisions (1) and (2)(A)(i), does not include an individual who holds dual citizenship with a foreign adversary (as defined in 15 C.F.R. § 7.4) and the United States or an individual who is a lawful permanent resident of the United States.

As added by P.L.168-2024, SEC.4.

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