§ 23-1-36-3 — Resignation; removal

Indiana § 23-1-36-3

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 36: Officers Generally

Text

(a) An officer may resign at any time by
delivering notice:
(1) to the board of directors, its chairman, or the secretary of the
corporation; or
(2) if the articles of incorporation or bylaws so provide, to another
designated officer.
(b) A resignation is effective when the notice is delivered unless the
notice specifies a later effective date. If a resignation is made effective
at a later date and the corporation accepts the future effective date, its
board of directors may fill the pending vacancy before the effective
date if the board of directors provides that the successor does not take
office until the effective date.
(c) A board of directors may remove any officer at any time with or
without cause.
(d) An officer who appoints another officer or assistant officer may
remove the appointed officer or assistant officer at any time with or
without cause.

Legislative History

As added by P.L.149-1986, SEC.20. Amended by P.L.107-1987, SEC.14.