Indiana Code 23-1.3-3-5. Plan of merger, consolidation, conversion, or share affecting status; minimum status vote
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Sec. 5. (a) This section does not apply to a corporation that is a party to a merger if the shareholders of the corporation are not entitled to vote on the merger under IC 23-1-40.
(b) If a plan of merger, consolidation, conversion, or share exchange would have the effect of terminating the status of a corporation as a benefit corporation, the plan must be adopted by at least a minimum status vote in order to be effective.Terms Used In Indiana Code 23-1.3-3-5
As added by P.L.93-2015, SEC.3.