Sec. 1304.0035. CONTROLLING PERSON. (a) In this chapter, "controlling person" means an individual who: (1) possesses direct or indirect control of at least 25 percent of the voting securities of a corporation; (2) possesses the authority to set policy and direct the management of a business entity; (3) is the president, the secretary, or a director of a corporation; or (4) is a general partner of a partnership. (b) An individual who is a controlling person of a corporation or other business entity that is the general partner of a limited partnership is a controlling person of the limited partnership.
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