Indiana § 23-2-3.1-11 Appeal; notice; transcript; disposition on appeal

Indiana Statutes

§ 23-2-3.1-11 — Appeal; notice; transcript; disposition on appeal

Indiana § 23-2-3.1-11

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 2SECURITIES AND FRANCHISES

Ch. 3.1Takeover Offers

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Bluebook

Ind. Code § 23-2-3.1-11 (2026).

Text

An appeal may be taken by any offeror,
target company, or other party to any proceeding before the
commissioner from any final order of the commissioner to the court of
appeals for errors of law under the same terms and conditions as
govern appeals in ordinary civil actions, except as otherwise provided
in this section. An assignment of errors that the decision, ruling, or
order of the commissioner is contrary to law is sufficient to present
both the sufficiency of the facts found to sustain the decision, ruling,
or order, and the sufficiency of the evidence to sustain the findings of
facts upon which it was rendered. Within twenty (20) days from the
entry of an order, the commissioner shall be served with a written
notice of the appeal which states the grounds upon which a reversal of
the

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An appeal may be taken by any offeror,
target company, or other party to any proceeding before the
commissioner from any final order of the commissioner to the court of
appeals for errors of law under the same terms and conditions as
govern appeals in ordinary civil actions, except as otherwise provided
in this section. An assignment of errors that the decision, ruling, or
order of the commissioner is contrary to law is sufficient to present
both the sufficiency of the facts found to sustain the decision, ruling,
or order, and the sufficiency of the evidence to sustain the findings of
facts upon which it was rendered. Within twenty (20) days from the
entry of an order, the commissioner shall be served with a written
notice of the appeal which states the grounds upon which a reversal of
the final order is sought and with a demand in writing for a certified
transcript of the record and of all papers on file in the commissioner's
office affecting or relating to that order. The commissioner shall within
twenty (20) days after service of the notice of appeal make, certify, and
deliver to the appellant the transcript. The appellant shall, within five
(5) days after the receipt of the transcript, file the transcript and a copy
of the notice of appeal with the clerk of the court. The notice of appeal
shall stand as the appellant's assignment of errors. If the order of the
commissioner is reversed, the court shall direct the commissioner's
further action in the matter, including the making and entering of any
order and the conditions, limitations, or restrictions to be contained in
the order. However, the commissioner is not barred from later revoking
or altering the order for any proper cause which may later accrue or be
discovered. If the order is affirmed, the appellant may file a new
disclosure statement after thirty (30) days from the ruling of the court
of appeals if the disclosure statement is not otherwise barred or limited.
The appeal does not suspend the operation of the order appealed from
during the pendency of the appeal unless upon proper order of the
court.
As added by Acts 1979, P.L.235, SEC.1. Amended by Acts
1981, P.L.215, SEC.10; P.L.3-1989, SEC.138.