Section 28-2-16-6 - "Control" definedAs used in this chapter, "control" means directly or indirectly:
(1) to own, control, or hold, with power to vote, twenty-five percent (25%) or more of the voting shares of a bank or company;(2) to control in any manner the election of a majority of the directors or trustees of a bank or company; or(3) to exercise a controlling influence over the management or policies of a bank or company, as determined by the Board of Governors of the Federal Reserve System after notice and opportunity for hearing.As added by P.L. 279-1987, SEC.9.