Terms Used In Indiana Code 26-4-3-8

  • 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.
   Sec. 8. A member of the board or other person acting on behalf of the corporation is not personally liable for damage or injury resulting from the performance of the member’s or person’s duties under this article.

As added by P.L.250-1995, SEC.1.