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Codeuvta0101definitionaffiliate
Site.Codeuvta0101definitionaffiliate History
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§ 1(1) “Affiliate” means:
->(i) a person that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than a person that holds the securities:
-->(A) as a fiduciary or agent without sole discretionary power to vote the securities; or
-->(B) solely to secure a debt, if the person has not in fact exercised the power to vote;
->(ii) a corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person that directly or indirectly owns, controls, or holds, with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than a person that holds the securities:
-->(A) as a fiduciary or agent without sole discretionary power to vote the securities; or
-->(B) solely to secure a debt, if the person has not in fact exercised the power to vote;
->(iii) a person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or
->(iv) a person that operates the debtor’s business under a lease or other agreement or controls substantially all of the debtor’s assets.
->(i) a person that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than a person that holds the securities:
-->(A) as a fiduciary or agent without sole discretionary power to vote the securities; or
-->(B) solely to secure a debt, if the person has not in fact exercised the power to vote;
->(ii) a corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person that directly or indirectly owns, controls, or holds, with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than a person that holds the securities:
-->(A) as a fiduciary or agent without sole discretionary power to vote the securities; or
-->(B) solely to secure a debt, if the person has not in fact exercised the power to vote;
->(iii) a person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or
->(iv) a person that operates the debtor’s business under a lease or other agreement or controls substantially all of the debtor’s assets.