Indiana § 2-7-1-3.5 - "Family business"
Full text of Indiana Indiana Code § 2-7-1-3.5 — "Family business", with citation guidance and answers to common questions.
§ 2-7-1-3.5. "Family business"
Sec. 3.5. "Family business" means a business entity in which an individual and the individual's spouse own at least eighty percent (80%) of the business, either of the voting stock or other measure of ownership of that type of business entity, regardless of whether all or a portion is owned jointly or severally.
As added by P.L.123-2015, SEC.4.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 2-7-1-3.5
What does Indiana Code § 2-7-1-3.5 cover?
Section 2-7-1-3.5 (""Family business"") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 2-7-1-3.5?
A common citation format is "Indiana Code § 2-7-1-3.5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 2-7-1-3.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.