Effective 1-1-2026.Sec. 1. (a) 'Affiliate' means a legal entity that:(1) controls, is controlled by, or is under common control with another legal entity; or(2) shares common branding with another legal entity.(b) For purposes of this section, 'control', with respect to a company, means:(1) ownership of, or the power to vote, more than fifty percent (50%) of the outstanding shares of any class of voting security of the company;(2) control in any manner over the election of a majority of the directors or of individuals exercising similar functions; or(3) the power to exercise controlling influence over the management of the company.As added by P.L.94-2023, SEC.1.
Indiana Legal Code