Sec. 38. "Ultimate equitable owner" means a person that, directly or indirectly, owns or controls ten percent (10%) or more of the equity interest in a loan broker, regardless of whether the person owns or controls the equity interest through:
(1) one (1) or more other persons; or
(2) one (1) or more proxies, powers of attorney, or variances.
As added by P.L.175-2019, SEC.2.