Ind. Code § 28-1-8-2
This is the official text of Ind. Code § 28-1-8-2, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Resolution proposing sale or other disposition; submission to shareholders
Official statutory text
Sec. 2. (a) A sale, lease, exchange, or other disposition described in section 1 of this chapter must first be proposed by the board of directors by the adoption of a resolution that:
(1) sets forth the terms and conditions of the sale, lease, exchange, or other disposition; and
(2) directs that the proposed disposition be submitted to a vote of the shareholders at the annual meeting or a special meeting.
(b) The meeting described in subsection (a)(2) shall:
(1) be called in the resolution required by subsection (a); and
(2) be in accordance with:
(A) IC 28-13-5-8, in the case of a corporation other than a credit union; and
(B) IC 28-7-1-14, in the case of a credit union.
Formerly: Acts 1933, c.40, s.138. As amended by P.L.263-1985, SEC.38; P.L.14-1992, SEC.75; P.L.122-1994, SEC.74; P.L.27-2012, SEC.45; P.L.159-2017, SEC.27.
(1) sets forth the terms and conditions of the sale, lease, exchange, or other disposition; and
(2) directs that the proposed disposition be submitted to a vote of the shareholders at the annual meeting or a special meeting.
(b) The meeting described in subsection (a)(2) shall:
(1) be called in the resolution required by subsection (a); and
(2) be in accordance with:
(A) IC 28-13-5-8, in the case of a corporation other than a credit union; and
(B) IC 28-7-1-14, in the case of a credit union.
Formerly: Acts 1933, c.40, s.138. As amended by P.L.263-1985, SEC.38; P.L.14-1992, SEC.75; P.L.122-1994, SEC.74; P.L.27-2012, SEC.45; P.L.159-2017, SEC.27.
Status: in_force · Read it on the official government site
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