Sec. 9. (a) Subject to subsection (b), "associate" means any of the following: (1) With respect to a particular person, corporation, business entity, or other organization (other than the applicant or an affiliate of the applicant) for which the person is: (A) an officer; (B) a partner; or (C) directly or indirectly the beneficial owner of at least ten percent (10%) of any class of equity securities. (2) With respect to an individual who is a director or an officer of the applicant or of any of the applicant's affiliates, a: (A) spouse; or (B) member of the immediate family sharing the same household. (3) With respect to a particular person, a trust or other estate in which the person has a substantial beneficial interest or for which the person serves as trustee or in a similar fiduciary capacity. (b) The term does not apply to a person that: (1) has a beneficial interest in; or (2) serves as a trustee or in a similar fiduciary capacity for; an employee benefit plan.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.