Indiana § 23-1-25-3 Issuance of shares; number; outstanding shares

Indiana Statutes

§ 23-1-25-3 — Issuance of shares; number; outstanding shares

Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 1 INDIANA BUSINESS CORPORATION LAW·Ch. 25 Shares Generally

(a)A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or cancelled.

(b)The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) and to IC 23-1-28.

(c)At all times that shares of the corporation are outstanding, one

(1)or more shares that together have unlimited voting rights and one

(1)or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A corporation may issue the number of
shares of each class or series authorized by the articles of
incorporation. Shares that are issued are outstanding shares until they
are reacquired, redeemed, converted, or cancelled.
(b) The reacquisition, redemption, or conversion of outstanding
shares is subject to the limitations of subsection (c) and to IC 23-1-28.
(c) At all times that shares of the corporation are outstanding, one
(1) or more shares that together have unlimited voting rights and one
(1) or more shares that together are entitled to receive the net assets of
the corporation upon dissolution must be outstanding.

Indiana § 23-1-25-3 (Issuance of shares; number; outstanding shares) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.