Current through Act 47 of the 2024 Legislative Session
Section 454M-13 - Presumption of control
An individual is presumed to control an entity if that individual is:
(1) An executive officer of the entity; or(2) A director, general partner, or managing member who directly or indirectly has the right to vote ten per cent or more of a class of voting securities of the entity or has the power to sell or direct the sale of ten per cent or more of a class of voting securities of the entity.