§ 23-1-20-30 — Persons or entities constituting one shareholder

Indiana § 23-1-20-30

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 20: General Definitions

Text

(a) For purposes of this article, each of the
following, identified as a shareholder in a corporation's current record
of shareholders, constitutes one (1) shareholder:
(1) Three (3) or fewer coowners. However, if there are four (4) or
more coowners, each coowner shall be counted as a shareholder.
(2) A corporation, limited liability company, partnership, trust,
estate, or other entity.
(3) The trustees, guardians, custodians, or other fiduciaries of a
single trust, estate, or account.
(b) For purposes of this article, shareholdings registered in
substantially similar names constitute one (1) shareholder if it is
reasonable to believe that the names represent the same person.

Legislative History

As added by P.L.149-1986, SEC.4. Amended by P.L.8-1993, SEC.302.