Indiana Statutes
§ 23-1-44-16 — Failure to take action; return of certificates; new action by corporation
Indiana § 23-1-44-16
JurisdictionIndiana
Title 23BUSINESS AND OTHER ASSOCIATIONS
Art. 1INDIANA BUSINESS CORPORATION LAW
Ch. 44Dissenters' Rights
This text of Indiana § 23-1-44-16 (Failure to take action; return of certificates; new action by corporation) 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 § 23-1-44-16 (2026).
Text
(a)If the corporation does not take the
proposed action within sixty (60) days after the date set for demanding
payment and depositing share certificates, the corporation shall return
the deposited certificates and release the transfer restrictions imposed
on uncertificated shares.
(b)If after returning deposited certificates and releasing transfer
restrictions, the corporation takes the proposed action, it must send a
new dissenters' notice under section 12 of this chapter and repeat the
payment demand procedure.
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Legislative History
As added by P.L.149-1986, SEC.28.
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"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 23-1-44-16, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/23-1-44-16.