1. (a) "Entity" means:

   1. (1) a business corporation;
   2. (2) a nonprofit corporation;
   3. (3) a general partnership, including a limited liability partnership;
   4. (4) a limited partnership; or
   5. (5) a limited liability company.

2. (b) The term does not include:

   1. (1) an individual;
   2. (2) a business trust, a trust with a predominately donative purpose, or a charitable trust;

   3. (3) an association or relationship that:

      1. (A) is not listed in subsection (a); and
      2. (B) is not a partnership under the rules stated in IC 23-4-1-7 or a similar provision of the law of another jurisdiction;
   4. (4) a decedent's estate;

   5. (5) a government or a governmental subdivision, agency, or

      instrumentality; or

   6. (6) any other person that has:

      1. (A) a legal existence separate from any interest holder of that person; or
      2. (B) the power to acquire an interest in real property in its own name.

As added by P.L.118-2017, SEC.5.