Indiana Administrative Code
Title 71 - INDIANA HORSE RACING COMMISSION
Article 1.5 - FLAT RACING; DEFINITIONS
Rule 1 - Definitions
Section 1-14 - "Beneficial interest" defined
Universal Citation: 71 IN Admin Code 1-14
Current through September 18, 2024
Authority: IC 4-31-3-9
Affected: IC 4-31
Sec. 14.
"Beneficial interest" means profit, benefit, or advantage resulting from a contract or the ownership of an estate as distinct from legal ownership or control. When considered as a designation of the character of an estate, "beneficial interest" means such an interest as a devisee, legatee, or donee takes solely for his own use or benefit and not as a holder of title for the use and benefit of another.
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