Indiana Code 28-13-1-2. Voting right; rights to assets on dissolution
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Sec. 2. The articles of incorporation must authorize the following:
(2) At least one (1) class of shares, which may be the same class or classes as those with voting rights, that together are entitled to receive the net assets of the corporation upon dissolution.
(1) At least one (1) class of shares that together have unlimited voting rights.
Terms Used In Indiana Code 28-13-1-2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
As added by P.L.14-1992, SEC.163.