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

Indiana Statutes

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

Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 1 INDIANA BUSINESS CORPORATION LAW·Ch. 43 Business Combinations

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.

Indiana § 23-1-43-12 ("Preferred shares" defined) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.