Indiana § 23-1.3-3-5 Plan of merger, consolidation, conversion, or share affecting status;
minimum status vote

Indiana Statutes

§ 23-1.3-3-5 — Plan of merger, consolidation, conversion, or share affecting status; minimum status vote

Indiana § 23-1.3-3-5

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1.3BENEFIT CORPORATIONS

Ch. 3Benefit Corporation Status

This text of Indiana § 23-1.3-3-5 (Plan of merger, consolidation, conversion, or share affecting status; 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 § 23-1.3-3-5 (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 a plan of merger, consolidation, conversion, or share exchange would have the effect of terminating the status of a corporation as a benefit corporation, the plan must be adopted by at least a minimum status vote in order to be effective.

Free access — add to your briefcase to read the full text and ask questions with AI

(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 a plan of merger, consolidation, conversion, or share exchange
would have the effect of terminating the status of a corporation as a
benefit corporation, the plan must be adopted by at least a minimum
status vote in order to be effective.