Indiana Code 23-1.3-2-5. “Benefit enforcement proceeding”
Current as of: 2024 | Check for updates
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Sec. 5. “Benefit enforcement proceeding” means any claim, action, or proceeding for:
(A) general public benefit; or
(1) the failure of a benefit corporation to pursue or create:
Terms Used In Indiana Code 23-1.3-2-5
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(B) a specific public benefit if the benefit corporation identified a specific public benefit purpose in its articles of incorporation; or
(2) a violation of any obligation, duty, or standard of conduct under this article.
As added by P.L.93-2015, SEC.3.