Indiana § 28-1-9-19 Expired corporations; continuation for purposes of liquidation

Indiana Statutes

§ 28-1-9-19 — Expired corporations; continuation for purposes of liquidation

Indiana § 28-1-9-19

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 9Voluntary Dissolution of Banks, Trust Companies, and

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Bluebook

Ind. Code § 28-1-9-19 (2026).

Text

Every corporation whose term of existence,
as fixed by the articles of incorporation, has expired shall continue its
corporate capacity for two (2) years for the purpose of liquidating its
affairs and distributing its assets to its shareholders, after paying all of
its liabilities, and for no other purpose. For such purpose, every such
corporation shall use its corporate name and shall be capable of
prosecuting and defending actions and suits at law or in equity.
Formerly: Acts 1933, c.40, s.160.

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Every corporation whose term of existence,
as fixed by the articles of incorporation, has expired shall continue its
corporate capacity for two (2) years for the purpose of liquidating its
affairs and distributing its assets to its shareholders, after paying all of
its liabilities, and for no other purpose. For such purpose, every such
corporation shall use its corporate name and shall be capable of
prosecuting and defending actions and suits at law or in equity.
Formerly: Acts 1933, c.40, s.160.