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Indiana Code Title 28. Financial Institutions § 28-6.2-1-6

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 6. (a) “Company” means:

(1) any corporation, partnership, business trust, joint venture, association, or similar organization;  or

(2) any other trust, unless by its terms it must terminate:

(A) within twenty-five (25) years;  or

(B) not later than twenty-one (21) years and ten (10) months after the death of any individual living on the effective date of the trust.

(b) As used in subsection (a)(1), “similar organization” means a combination of parties with the potential for or practical likelihood of a continuing rather than temporary existence, in which the parties have knowingly and voluntarily associated for a common purpose in identifiable and binding relationships that govern the parties with respect to either:

(1) the transferability and voting rights concerning any stock or other indicia of participation in another entity;  or

(2) the achievement of a common or shared objective, such as to collectively manage or control another entity.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-6.2-1-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-6-2-1-6/

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