Indiana Code 23-17-17-11. Rights, claims, proceedings, and limitations not affected by amendment to articles or by change of corporate name
Current as of: 2023 | Check for updates
|
Other versions
Sec. 11. (a) An amendment to articles of incorporation does not affect the following:
(2) A requirement or limitation imposed upon the corporation or any property held by the corporation by virtue of any trust upon which the property is held by the corporation.
(1) A proceeding to which the corporation is a party in a cause of action existing against or in favor of the corporation.
Terms Used In Indiana Code 23-17-17-11
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) The existing rights of persons other than members of the corporation.
(b) An amendment changing a corporation’s name does not abate a proceeding brought by or against the corporation in the corporation’s former name.
As added by P.L.179-1991, SEC.1.