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

Indiana Statutes

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

Indiana § 23-1-25-3

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1INDIANA BUSINESS CORPORATION LAW

Ch. 25Shares Generally

This text of Indiana § 23-1-25-3 (Issuance of shares; number; outstanding shares) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-1-25-3 (2026).

Text

(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.

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(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.