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 § 28-1-9-4

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

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

This text of Indiana § 28-1-9-4 (Restrictions on dividends and business pending payment of debts and liabilities) 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 § 28-1-9-4 (2026).

Text

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paid to the shareholders, nor shall any part of the capital be withdrawn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paid to the shareholders, nor shall any part of the capital be withdrawn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.