§ 23-1-38-1 — Required and permitted changes; vested property rights

Indiana § 23-1-38-1

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 38: Amendment of Articles of Incorporation

Text

(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.

Legislative History

As added by P.L.149-1986, SEC.22.