Indiana § 23-1.3-2-9 "Minimum status vote"

Indiana Statutes

§ 23-1.3-2-9 — "Minimum status vote"

Indiana § 23-1.3-2-9

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1.3BENEFIT CORPORATIONS

Ch. 2Definitions

This text of Indiana § 23-1.3-2-9 ("Minimum status vote") 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 § 23-1.3-2-9 (2026).

Text

"Minimum status vote" means the following:

(1)For a corporation, in addition to any other required approval or vote, a vote in which:

(A)the shareholders of every class or series of shares are entitled to vote as a separate voting group on the corporate action regardless of a limitation stated in the articles of incorporation or bylaws on the voting rights of any class or series; and

(B)the corporate action is approved by vote of the shareholders of each class or series of shares entitled to cast at least ninety percent (90%) of the votes that all shareholders of the class or series are entitled to cast on the action.

(2)For a domestic business entity other than a corporation, in addition to any other required approval, vote, or consent, a vote in which:

(A)the holders of every class

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"Minimum status vote" means the following:
(1) For a corporation, in addition to any other required approval
or vote, a vote in which:
(A) the shareholders of every class or series of shares are
entitled to vote as a separate voting group on the corporate
action regardless of a limitation stated in the articles of
incorporation or bylaws on the voting rights of any class or
series; and
(B) the corporate action is approved by vote of the shareholders
of each class or series of shares entitled to cast at least ninety
percent (90%) of the votes that all shareholders of the class or
series are entitled to cast on the action.
(2) For a domestic business entity other than a corporation, in
addition to any other required approval, vote, or consent, a vote
in which:
(A) the holders of every class or series of equity interest in the
entity that are entitled to receive a distribution of any kind from
the entity are entitled to vote on or consent to the action
regardless of any otherwise applicable limitation on the voting
or consent rights of any class or series; and
(B) the action is approved by vote or consent of the holders
described in clause (A) entitled to cast at least ninety percent
(90%) of the votes or consents that all of the holders are entitled
to cast on the action.