§ 23-1-28-1 Distributions
§ 23-1-28-2 Record date, declaration date, and payment date
§ 23-1-28-3 Prohibited distributions
§ 23-1-28-4 Basis for determination that distribution not prohibited
§ 23-1-28-5 Measuring effect of distribution; date
§ 23-1-28-6 Indebtedness to shareholder; priority

Terms Used In Indiana Code > Title 23 > Article 1 > Chapter 28 - Distributions to Shareholders

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5