Indiana Statutes
§ 23-1-32-2 — Complaint; stay of proceeding
Indiana § 23-1-32-2
JurisdictionIndiana
Title 23BUSINESS AND OTHER ASSOCIATIONS
Art. 1INDIANA BUSINESS CORPORATION LAW
Ch. 32Derivative Proceedings
This text of Indiana § 23-1-32-2 (Complaint; stay of proceeding) 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 § 23-1-32-2 (2026).
Text
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"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 23-1-32-2, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/23-1-32-2.