Indiana § 28-1-9-4 Restrictions on dividends and business pending payment of debts and
liabilities

Indiana Statutes

§ 28-1-9-4 — Restrictions on dividends and business pending payment of debts and liabilities

Indiana·Art. 1 DEPARTMENT OF FINANCIAL INSTITUTIONS·Ch. 9 Voluntary Dissolution of Banks, Trust Companies, and

After the vote of the shareholders shall have
been taken, as hereinbefore provided, no dividend or profits shall be
paid to the shareholders, nor shall any part of the capital be withdrawn
by or paid to the shareholders, in any manner whatsoever, nor shall
such corporation transact any business whatsoever except such as may
be necessary or incidental to its dissolution, until all of the debts and
liabilities of the corporation of every kind are fully paid.
Formerly: Acts 1933, c.40, s.145.

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After the vote of the shareholders shall have
been taken, as hereinbefore provided, no dividend or profits shall be
paid to the shareholders, nor shall any part of the capital be withdrawn
by or paid to the shareholders, in any manner whatsoever, nor shall
such corporation transact any business whatsoever except such as may
be necessary or incidental to its dissolution, until all of the debts and
liabilities of the corporation of every kind are fully paid.
Formerly: Acts 1933, c.40, s.145.

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