Indiana Statutes
§ 23-1-44-15 — Payment to dissenter
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 1 INDIANA BUSINESS CORPORATION LAW·Ch. 44 Dissenters' Rights
(a)Except as provided in section 17 of this
chapter, as soon as the proposed corporate action is taken, or, if the
transaction did not need shareholder approval and has been completed,
upon receipt of a payment demand, the corporation shall pay each
dissenter who complied with section 13 of this chapter the amount the
corporation estimates to be the fair value of the dissenter's shares.
(b)The payment must be accompanied by:
(1)the corporation's balance sheet as of the end of a fiscal year
ending not more than sixteen (16) months before the date of
payment, an income statement for that year, a statement of
changes in shareholders' equity for that year, and the latest
available interim financial statements, if any;
(2)a statement of the corporation's estimate of the fair value of
the sh
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Legislative History
As added by P.L.149-1986, SEC.28. Amended by P.L.107-1987,
SEC.21.
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"