Indiana § 23-1.3-3-3 Plan of merger, consolidation, conversion, or share exchange;
minimum status vote

Indiana Statutes

§ 23-1.3-3-3 — Plan of merger, consolidation, conversion, or share exchange; minimum status vote

Indiana § 23-1.3-3-3

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1.3BENEFIT CORPORATIONS

Ch. 3Benefit Corporation Status

This text of Indiana § 23-1.3-3-3 (Plan of merger, consolidation, conversion, or share exchange; 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 § 23-1.3-3-3 (2026).

Text

(a)This section does not apply to a corporation that is a party to a merger if the shareholders of the corporation are not entitled to vote on the merger under IC 23-1-40.

(b)If:

(1)a domestic entity that is not a benefit corporation is a party to:

(A)a merger, consolidation, or conversion; or

(B)the exchanging entity in a share exchange; and

(2)the surviving entity in the merger, consolidation, conversion, or share exchange is to be a benefit corporation; the plan of merger, consolidation, conversion, or share exchange must be adopted by the domestic entity by at least the minimum status vote.

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(a) This section does not apply to a corporation
that is a party to a merger if the shareholders of the corporation are not
entitled to vote on the merger under IC 23-1-40.
(b) If:
(1) a domestic entity that is not a benefit corporation is a party to:
(A) a merger, consolidation, or conversion; or
(B) the exchanging entity in a share exchange; and
(2) the surviving entity in the merger, consolidation, conversion,
or share exchange is to be a benefit corporation;
the plan of merger, consolidation, conversion, or share exchange must
be adopted by the domestic entity by at least the minimum status vote.