§ 23-1-44-20 — Costs; fees; attorney's fees

Indiana § 23-1-44-20

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 44: Dissenters' Rights

Text

(a) The court in an appraisal proceeding
commenced under section 19 of this chapter shall determine all costs
of the proceeding, including the reasonable compensation and expenses
of appraisers appointed by the court. The court shall assess the costs
against such parties and in such amounts as the court finds equitable.
(b) The court may also assess the fees and expenses of counsel and
experts for the respective parties, in amounts the court finds equitable:
(1) against the corporation and in favor of any or all dissenters if
the court finds the corporation did not substantially comply with
the requirements of sections 10 through 18 of this chapter; or
(2) against either the corporation or a dissenter, in favor of any
other party, if the court finds that the party against whom the fees
and expenses are assessed acted arbitrarily, vexatiously, or not in
good faith with respect to the rights provided by this chapter.
(c) If the court finds that the services of counsel for any dissenter
were of substantial benefit to other dissenters similarly situated and
that the fees for those services should not be assessed against the
corporation, the court may award to these counsel reasonable fees to be
paid out of the amounts awarded the dissenters who were benefited.

Legislative History

As added by P.L.149-1986, SEC.28.