Indiana § 23-1-43-12 "Preferred shares" defined

Indiana Statutes

§ 23-1-43-12 — "Preferred shares" defined

Indiana § 23-1-43-12

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1INDIANA BUSINESS CORPORATION LAW

Ch. 43Business Combinations

This text of Indiana § 23-1-43-12 ("Preferred shares" defined) 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 § 23-1-43-12 (2026).

Text

As used in this chapter, "preferred shares" means any class or series of shares of a resident domestic corporation that under the bylaws or articles of incorporation of the resident domestic corporation:

(1)is entitled to receive payment of dividends before any payment of dividends on some other class or series of shares; or

(2)is entitled in the event of any voluntary liquidation, dissolution, or winding up of the corporation to receive payment or distribution of a preferential amount before any payments or distributions are received by some other class or series of shares.

Free access — add to your briefcase to read the full text and ask questions with AI

As used in this chapter, "preferred shares"
means any class or series of shares of a resident domestic corporation
that under the bylaws or articles of incorporation of the resident
domestic corporation:
(1) is entitled to receive payment of dividends before any payment
of dividends on some other class or series of shares; or
(2) is entitled in the event of any voluntary liquidation,
dissolution, or winding up of the corporation to receive payment
or distribution of a preferential amount before any payments or
distributions are received by some other class or series of shares.