§ 23-1-17.3-2 — Effect of repeal of repealed statute

Indiana § 23-1-17.3-2

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 17.3: Transitional Provisions

Text

Except as provided in section 3 of this
chapter, the repeal of a repealed statute does not affect any of the
following:
(1) The operation of the repealed statute or any action taken under
it before its repeal, including (without limitation) the continuing
validity of a corporation's articles of incorporation and bylaws,
indemnification provisions for directors, officers, employees, and
agents, resolutions of the board of directors and shareholders, and
corporate name, all as adopted by any domestic corporation
before August 1, 1987, or the date specified in a resolution of the
board of directors adopted under IC 23-1-17-3(b), as added by
P.L.149-1986, to the same extent that any of these would have
been valid had the repealed statute not been repealed.
(2) Any ratification, right, remedy, privilege, obligation, or
liability acquired, accrued, or incurred under the repealed statute
before its repeal.
(3) Any violation of the repealed statute, or any penalty,
forfeiture, or punishment incurred because of the violation, before
its repeal.
(4) Any proceeding, reorganization, or dissolution commenced
under the repealed statute before its repeal, and the proceeding,
reorganization, or dissolution may be completed in accordance
with the repealed statute as if it had not been repealed.

Legislative History

As added by P.L.220-2011, SEC.378.