Indiana Code 23-17-14-4. Election, appointment, resignation, or removal; contract rights
Current as of: 2023 | Check for updates
|
Other versions
Sec. 4. (a) The election or appointment of an officer does not create contract rights.
(b) An officer’s removal does not affect the officer’s contract rights with the corporation. An officer’s resignation does not affect the corporation’s contract rights with the officer. Removal or resignation of an officer does not affect the contract rights of the officer or the corporation.
As added by P.L.179-1991, SEC.1.
Terms Used In Indiana Code 23-17-14-4
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.