Indiana § 5-28-20-6 - "Owned and controlled"
Full text of Indiana Indiana Code § 5-28-20-6 — "Owned and controlled", with citation guidance and answers to common questions.
§ 5-28-20-6. "Owned and controlled"
Sec. 6. As used in this chapter, "owned and controlled" means having:
(1) ownership of at least fifty-one percent (51%) of the enterprise, including corporate stock of a corporation;
(2) control over the management and being active in the day to day operations of the business; and
(3) an interest in the capital, assets, and profits and losses of the business proportionate to the percentage of ownership.
As added by P.L.4-2005, SEC.34.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-28-20-6
What does Indiana Code § 5-28-20-6 cover?
Section 5-28-20-6 (""Owned and controlled"") 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 § 5-28-20-6?
A common citation format is "Indiana Code § 5-28-20-6" (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 § 5-28-20-6 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.