"Controlling person"
Ind. Code § 1-1-15.3-2
in effectSec. 2. As used in this chapter, "controlling person" means:
(1) a beneficial owner (as defined in IC 23-1-20-3.5) of at least fifty-one percent (51%) of the shares of a business entity;
(2) an officer, a director, or another individual who possesses inside information about a business entity because of the officer, director, or other individual's relationship with the business entity; or
(3) a person, individually or as a member of a group, who has the ability to directly or indirectly affect a business entity's management or policies.
As added by P.L.131-2026, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/1Fetched: 10/17/2026