Section 27-14.5-1-9 - "Associate"(a) Subject to subsection (b), "associate" means any of the following:(1) With respect to a particular person, corporation, business entity, or other organization (other than the applicant or an affiliate of the applicant) for which the person is:(C) directly or indirectly the beneficial owner of at least ten percent (10%) of any class of equity securities.(2) With respect to an individual who is a director or an officer of the applicant or of any of the applicant's affiliates, a:(B) member of the immediate family sharing the same household.(3) With respect to a particular person, a trust or other estate in which the person has a substantial beneficial interest or for which the person serves as trustee or in a similar fiduciary capacity.(b) The term does not apply to a person that:(1) has a beneficial interest in; or(2) serves as a trustee or in a similar fiduciary capacity for; an employee benefit plan.
Added by P.L. 226-2023,SEC. 30, eff. 5/1/2023.