"Affiliate"

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.