1. (a) As used in this chapter, "entity" means a:

   1. (1) business corporation (as defined in IC 23-0.5-1.5-3 );
   2. (2) general partnership (as defined in IC 23-0.5-1.5-13 ), including a limited liability partnership (as defined in IC 23-0.5-1.5-21 );
   3. (3) limited partnership (as defined in IC 23-0.5-1.5-22 ); or
   4. (4) limited liability company (as defined in IC 23-0.5-1.5-20 ).

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; or

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

      instrumentality.

As added by P.L.60-2026, SEC.1.