28-13-14-8.5. Purchase Price of Stock
Sec. 8.5. (a) The following guidelines and procedures apply when requesting that the director approve an amendment to articles of incorporation resulting in a reverse stock split authorized by IC 28-13-14-8(a)(10): (1) The purchase price of the stock must be based on market value if there is an established and active market in the corporation’s […]
28-13-16-3. “Financial Institution” Defined
Sec. 3. As used in this chapter, “financial institution” means: (1) a bank (as defined by IC 28-1-1-3); (2) a savings bank; (3) a savings association; or (4) an industrial loan and investment company that maintains federal deposit insurance. As added by P.L.215-1999, SEC.10.
28-13-13-9. Mandatory Indemnification of Director for Expenses of Successful Defense of Proceeding
Sec. 9. Unless limited by its articles of incorporation, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the corporation against reasonable expenses incurred by the director […]
28-13-13-10. Advancement of Expenses Before Final Disposition of Proceeding; Conditions; Procedure
Sec. 10. (a) A corporation may pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding in advance of final disposition of the proceeding if: (1) the director furnishes the corporation a written affirmation of the director’s good faith belief that the director has met the standard […]
28-13-13-11. Court Ordered Indemnification; Determination
Sec. 11. Unless a corporation’s articles of incorporation provide otherwise, a director of the corporation who is a party to a proceeding may apply for indemnification to the court conducting the proceeding or to another court of competent jurisdiction. On receipt of an application, the court after giving any notice the court considers necessary may […]
28-13-13-12. Standards for Conditional Determinations and Authorizations; Procedure
Sec. 12. (a) A corporation may not indemnify a director under section 8 of this chapter unless authorized in the specific case after a determination has been made that indemnification of the director is permissible in the circumstances because the director has met the standard of conduct set forth in section 8 of this chapter. […]
28-13-13-13. Indemnification of Corporate Officers and Employees Other Than Directors
Sec. 13. The following apply unless a corporation’s articles of incorporation provide otherwise: (1) An officer of the corporation, whether or not a director, is entitled to mandatory indemnification under section 9 of this chapter and is entitled to apply for court-ordered indemnification under section 11 of this chapter, in each case to the same […]
28-13-13-14. Liability Insurance Purchased and Maintained by Corporation
Sec. 14. A corporation may purchase and maintain insurance on behalf of an individual: (1) who is or was a director, an officer, an employee, or an agent of the corporation; or (2) who, while a director, an officer, an employee, or an agent of the corporation, is or was serving at the request of […]
28-13-13-15. Limitation of Remedies; Effect of Chapter
Sec. 15. (a) The indemnification and advance for expenses provided for or authorized by this chapter does not exclude any other rights to indemnification and advance for expenses that a person may have under: (1) a corporation’s articles of incorporation or bylaws; (2) a resolution of the board of directors or of the shareholders; or […]
28-13-14-1. Authority to Amend; Restriction on Shareholder Vested Rights
Sec. 1. (a) A corporation may amend the corporation’s articles of incorporation at any time to add or change a provision that is required or permitted to be in the articles of incorporation or to delete a provision not required to be in the articles of incorporation. Whether a provision is required or permitted to […]