§ 23-17-17-8 — Restatement of articles of incorporation; amendment of articles included in restatement; approval

Indiana § 23-17-17-8

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 17: NONPROFIT CORPORATIONS
• Ch. 17: Amendment of Articles of Incorporation

Text

(a) A corporation's board of directors may
restate the corporation's articles of incorporation with or without
approval by members or another person.
(b) A restatement may include amendments to the articles of
incorporation. If the restatement includes an amendment requiring
approval by the members or another person, the amendment must be
adopted under section 5 of this chapter.
(c) If a restatement includes an amendment requiring approval by
members, the board of directors must submit the restatement to the
members for approval.
(d) If a board of directors seeks to have a restatement approved by
the members at a membership meeting, the corporation shall notify
each of the corporation's members of the proposed membership
meeting in writing under IC 23-17-10-5. The notice must do the
following:
(1) State that the purpose of the meeting is to consider the
proposed restatement.
(2) Contain or be accompanied by a copy or summary of the
restatement that identifies amendments or other changes the
restatement would make in the articles of incorporation.
(e) If a board of directors seeks to have a restatement approved by
the members by written ballot or written consent, the material soliciting
the approval must contain or be accompanied by a copy or summary of
the restatement that identifies amendments or other changes the
restatement would make in the articles of incorporation.
(f) A restatement requiring approval by the members must be
approved by the same vote as an amendment to articles of
incorporation under section 5 of this chapter.
(g) If a restatement includes an amendment requiring approval
under section 1 of this chapter, the board of directors must submit the
restatement for approval.

Legislative History

As added by P.L.179-1991, SEC.1. Amended by P.L.1-1992, SEC.123.