Indiana Code 22-2-12-2. Corporate stock; payment or refund; release of employer
Current as of: 2023 | Check for updates
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Terms Used In Indiana Code 22-2-12-2
- 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.
- Trustee: A person or institution holding and administering property in trust.
Sec. 2. Should said payment or refund made as provided in section 1 of this chapter be comprised in whole or in part of stock in any corporation, such corporation may accept said stock for transfer as directed by the employer, former employer, or the trustee making such payment or refund, and shall be entitled to treat the transferee as the owner of the stock for all purposes unless and until the corporation has received at its home office written notice by or on behalf of some other person that the other person claims to be entitled to the stock or to some interest in the stock.
Formerly: Acts 1957, c.63, s.2. As amended by P.L.144-1986, SEC.19; P.L.136-2018, SEC.112.