Indiana Statutes
§ 23-1-38-1 — Required and permitted changes; vested property rights
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 1 INDIANA BUSINESS CORPORATION LAW·Ch. 38 Amendment of Articles of Incorporation
(a)A corporation may amend its articles of
incorporation at any time to add or change a provision that is required
or permitted to be in the articles of incorporation or to delete a
provision not required to be in the articles of incorporation. Whether
a provision is required or permitted to be in the articles of incorporation
is determined as of the effective date of the amendment.
(b)A shareholder of the corporation does not have a vested property
right resulting from any provision in the articles of incorporation, or
authorized to be in the bylaws by this article or the articles of
incorporation including provisions relating to management, control,
capital structure, dividend entitlement, or purpose or duration of the
corporation.
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Legislative History
As added by P.L.149-1986, SEC.22.
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"