Indiana Code 28-13-4-1. Power of board of directors to make distributions
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Terms Used In Indiana Code 28-13-4-1
- 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. 1. A board of directors may authorize and the corporation may make distributions to the corporation’s shareholders subject to restriction by the articles of incorporation and the limitations in section 3 of this chapter.
As added by P.L.14-1992, SEC.163.