Indiana Statutes
§ 23-1.3-5-4 — No duty to beneficiary
Indiana § 23-1.3-5-4
JurisdictionIndiana
Title 23BUSINESS AND OTHER ASSOCIATIONS
Art. 1.3BENEFIT CORPORATIONS
Ch. 5Standard of Conduct for Directors
This text of Indiana § 23-1.3-5-4 (No duty to beneficiary) 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 § 23-1.3-5-4 (2026).
Text
A director does not have a duty to a person
that is a beneficiary of the general public benefit purpose or a specific
public benefit purpose of a benefit corporation arising from the status
of the person as a beneficiary.
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Legislative History
As added by P.L.93-2015, SEC.3.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 23-1.3-5-4, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/23-1.3-5-4.