Indiana Administrative Code
Title 71 - INDIANA HORSE RACING COMMISSION
Article 1 - DEFINITIONS
Rule 1 - Definitions
Section 1-13 - "Beneficial interest" defined

Authority: IC 4-31-3-9

Affected: IC 4-31

Sec. 13.

"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.