Authority: IC 23-19-6-5
Affected: IC 23-19-5-2
Sec. 10.
The term does not include a company required to be registered under the federal Investment Company Act of 1940 but which is not so registered, a private investment company that is a company that would be defined as an investment company under Section 3(a) of the federal Investment Company Act of 1940 (15 U.S.C. 80a-3(a)) but for the exception from that definition provided by Section 3(c)(1) of that Act (15 U.S.C. 80a-3(c)(1)) , an investment company registered under the federal Investment Company Act of 1940, or a business development company as defined in Section 202(a)(22) of the federal Investment Adviser Act of 1940 (15 U.S.C. 80b-2(a)(22)) , unless each of the equity owners of any business development company, other than the investment adviser entering into the contract, is a natural person or company as defined under this subsection.
of any person who, at any time since the beginning of the last two (2) years, has acted as legal counsel for the investment adviser.
an investment advisory contract that provides for compensation to the investment adviser on the basis of a share of capital gains upon or capital appreciation of the funds of the client if the conditions of subsections (f) through (k) are met.
of the company or the trustee, where the company is a trust, or any other person designated by the company or trustee but must satisfy the definition of client's independent agent set forth in subsection (b).
710 IAC 4-9-10