Except as authorized under section 2 of this chapter, a corporation may not make distributions. As added by P.L.179-1991, SEC.1. An affiliate is an entity that directly or indirectly controls, is controlled by, or is under common control with the corporation.
Control includes the power to select the corporation's board of directors.
As added by P.L.179-1991, SEC.1. Amended by P.L.1-1998, SEC.129.