Indiana § 23-1-40-2 Acquisition of shares of another corporation; plan of exchange

Indiana Statutes

§ 23-1-40-2 — Acquisition of shares of another corporation; plan of exchange

Indiana § 23-1-40-2

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1INDIANA BUSINESS CORPORATION LAW

Ch. 40Merger and Share Exchange

This text of Indiana § 23-1-40-2 (Acquisition of shares of another corporation; plan of exchange) 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 § 23-1-40-2 (2026).

Text

(a)A corporation may acquire all of the outstanding shares of one (1) or more classes or series of another corporation if the board of directors of each corporation adopts and its shareholders (if required by section 3 of this chapter) approve the exchange.

(b)The plan of exchange must set forth:

(1)the name of the corporation whose shares will be acquired and the name of the acquiring corporation;

(2)the terms and conditions of the exchange; and

(3)the manner and basis of exchanging the shares to be acquired for shares, obligations, or other securities of the acquiring or any other corporation or for cash or other property in whole or in part.

(c)The plan of exchange may set forth other provisions relating to the exchange.

(d)This section does not limit the power of a corporation t

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(a) A corporation may acquire all of the
outstanding shares of one (1) or more classes or series of another
corporation if the board of directors of each corporation adopts and its
shareholders (if required by section 3 of this chapter) approve the
exchange.
(b) The plan of exchange must set forth:
(1) the name of the corporation whose shares will be acquired and
the name of the acquiring corporation;
(2) the terms and conditions of the exchange; and
(3) the manner and basis of exchanging the shares to be acquired
for shares, obligations, or other securities of the acquiring or any
other corporation or for cash or other property in whole or in part.
(c) The plan of exchange may set forth other provisions relating to
the exchange.
(d) This section does not limit the power of a corporation to acquire
all or part of the shares of one (1) or more classes or series of another
corporation through a voluntary exchange or otherwise.