Indiana Code 28-13-14-18. Effect of amendment on existing rights, causes of action, and proceedings
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Sec. 18. (a) An amendment to articles of incorporation does not affect the following:
(2) A proceeding to which the corporation is a party.
(1) A cause of action existing against or in favor of the corporation.
Terms Used In Indiana Code 28-13-14-18
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
(3) The preexisting rights of persons other than shareholders of the corporation.
(b) An amendment changing a corporation’s name does not abate a proceeding brought by or against the corporation in its former name.
As added by P.L.14-1992, SEC.163.