Indiana Statutes
§ 23-1-32-2 — Complaint; stay of proceeding
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 1 INDIANA BUSINESS CORPORATION LAW·Ch. 32 Derivative Proceedings
A complaint in a proceeding brought in the
right of a corporation must be verified and allege with particularity the
demand made, if any, to obtain action by the board of directors and
either that the demand was refused or ignored or why the shareholder
did not make the demand. Whether or not a demand for action was
made, if the corporation commences an investigation of the charges
made in the demand or complaint (including an investigation
commenced under section 4 of this chapter), the court may stay any
proceeding until the investigation is completed.
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Related
Boland v. Engle
113 F.3d 706 (Seventh Circuit, 1997)
In Re ITT Derivative Litigation
932 N.E.2d 664 (Indiana Supreme Court, 2010)
In Re Guidant Shareholders Derivative
841 N.E.2d 571 (Indiana Supreme Court, 2006)
Sonkin v. Barker
670 F. Supp. 249 (S.D. Indiana, 1987)
Crace v. Robert Weed Plywood Corporation
(N.D. Indiana, 2024)
WILLIAMS v. EBX ENTERPRISES, LLC
(S.D. Indiana, 2021)
Legislative History
As added by P.L.149-1986, SEC.16.
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"