Indiana § 23-1.3-5-1 Consideration of interests

Indiana Statutes

§ 23-1.3-5-1 — Consideration of interests

Indiana § 23-1.3-5-1

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1.3BENEFIT CORPORATIONS

Ch. 5Standard of Conduct for Directors

This text of Indiana § 23-1.3-5-1 (Consideration of interests) 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 § 23-1.3-5-1 (2026).

Text

The following apply to the board of directors, committees of the board of directors, and individual directors of a benefit corporation in discharging the duties of their respective positions and in considering the best interests of the benefit corporation:

(1)The board of directors, committees of the board of directors, and individual directors shall consider the effects of any action or inaction upon all the following:

(A)The shareholders of the benefit corporation.

(B)The employees and workforce of the:

(i)benefit corporation;

(ii)subsidiaries of the benefit corporation; and

(iii)suppliers of the benefit corporation.

(C)The interests of customers as beneficiaries of the general public benefit or specific public benefit purposes of the benefit corporation.

(D)Community and societa

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The following apply to the board of directors,
committees of the board of directors, and individual directors of a
benefit corporation in discharging the duties of their respective
positions and in considering the best interests of the benefit
corporation:
(1) The board of directors, committees of the board of directors,
and individual directors shall consider the effects of any action or
inaction upon all the following:
(A) The shareholders of the benefit corporation.
(B) The employees and workforce of the:
(i) benefit corporation;
(ii) subsidiaries of the benefit corporation; and
(iii) suppliers of the benefit corporation.
(C) The interests of customers as beneficiaries of the general
public benefit or specific public benefit purposes of the benefit
corporation.
(D) Community and societal factors, including the factors of
each community in which:
(i) offices or facilities;
(ii) subsidiaries; or
(iii) suppliers;
of the benefit corporation are located.
(E) The local and global environment.
(F) The short term and long term interests of the benefit
corporation, including benefits that may accrue to the benefit
corporation from its long term plans and the possibility that the
interests may be best served by the continued independence of
the benefit corporation.
(G) The ability of the benefit corporation to accomplish its
general public benefit purpose and any specific public benefit
purpose.
(2) The board of directors, committees of the board of directors,
and individual directors may consider other pertinent factors or
the interests of any other group that the board of directors,
committees of the board of directors, or individual directors
consider appropriate.
(3) The board of directors, committees of the board of directors,
and individual directors are not required to give priority to a
particular interest or factor listed in subdivision (1) or (2) over
any other interest or factor unless the benefit corporation has
stated in its articles of incorporation its intention to give priority
to certain interests or factors related to its accomplishment of its
general public benefit purpose or of a specific public benefit
purpose identified in its articles of incorporation.