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Terms Used In Indiana Code 8-1.5-1-9

  • 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.
  • Trustee: A person or institution holding and administering property in trust.
   Sec. 9. “Person” means individual, firm, corporation, partnership, limited liability company, trustee, lessee, or receiver.

As added by Acts 1982, P.L.74, SEC.1. Amended by P.L.8-1993, SEC.132.