For purposes of the contribution limitations in this article the following shall apply:
A. All payments made by a person, as defined in the Political Reform Act of 1974, as amended, whose contribution or expenditure activity is financed, maintained or controlled by any corporation, labor organization, association, political party or any other person or committee, including any parent, subsidiary, branch, division, department or local unit of the corporation, labor organization, association, political party or any other person, or by any group of such persons shall be considered to be made by a single person or committee.
B. Two (2) or more entities shall be treated as one person when any of the following circumstances apply: 1. The entities share the majority of members of their boards of directors; 2. The entities share two (2) or more officers; 3. The entities are owned or controlled by the same majority shareholder or shareholders; 4. The entities are in a parent-subsidiary relationship.
C. An individual and any general partnership in which the individual is a partner, or an individual and any corporation in which the individual owns a controlling interest, shall be treated as one person.