Indiana Statutes
§ 23-1-28-6 — Indebtedness to shareholder; priority
Indiana § 23-1-28-6
JurisdictionIndiana
Title 23BUSINESS AND OTHER ASSOCIATIONS
Art. 1INDIANA BUSINESS CORPORATION LAW
Ch. 28Distributions to Shareholders
This text of Indiana § 23-1-28-6 (Indebtedness to shareholder; priority) 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 § 23-1-28-6 (2026).
Text
A corporation's indebtedness to a shareholder
incurred by reason of a distribution made in accordance with this
chapter is at parity with the corporation's indebtedness to its general,
unsecured creditors except to the extent subordinated by agreement.
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Legislative History
As added by P.L.149-1986, SEC.12.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 23-1-28-6, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/23-1-28-6.