§ 23-1-29-7 — Fixing of record date

(a) The bylaws may fix or provide the manner
of fixing the record date for one (1) or more voting groups in order to
determine the shareholders entitled to notice of a shareholders'
meeting, to demand a special meeting, to vote, or to take any other
action. If the bylaws do not fix or provide for fixing a record date, the
board of directors of the corporation may fix a future date as the record
date.
(b) A record date fixed under this section may not be more than
seventy (70) days before the meeting or action requiring a
determination of shareholders.
(c) A determination of shareholders entitled to notice of or to vote
at a shareholders' meeting is effective for any adjournment of the
meeting unless the board of directors fixes a new record date, which it
must do if the meeting is adjourned to a date more than one hundred
twenty (120) days after the date fixed for the original meeting.
(d) If a court orders a meeting adjourned to a date more than one
hundred twenty (120) days after the date fixed for the original meeting,
it may provide that the original record date continues in effect or it may
fix a new record date.

Legislative History

As added by P.L.149-1986, SEC.13.