§ 23-1-44-9 — Dissenters' rights of beneficial shareholder

Indiana § 23-1-44-9

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

Text

(a) A record shareholder may assert dissenters'
rights as to fewer than all the shares registered in the shareholder's
name only if the shareholder dissents with respect to all shares
beneficially owned by any one (1) person and notifies the corporation
in writing of the name and address of each person on whose behalf the
shareholder asserts dissenters' rights. The rights of a partial dissenter
under this subsection are determined as if the shares as to which the
shareholder dissents and the shareholder's other shares were registered
in the names of different shareholders.
(b) A beneficial shareholder may assert dissenters' rights as to
shares held on the shareholder's behalf only if:
(1) the beneficial shareholder submits to the corporation the
record shareholder's written consent to the dissent not later than
the time the beneficial shareholder asserts dissenters' rights; and
(2) the beneficial shareholder does so with respect to all the
beneficial shareholder's shares or those shares over which the
beneficial shareholder has power to direct the vote.

Legislative History

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