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.