§ 28-13-1-1 — Number of shares; classes of shares; preferences; limitations; relative rights

Indiana § 28-13-1-1

• Jurisdiction: Indiana
• Art. 13: CORPORATE GOVERNANCE
• Ch. 1: Shares Generally

Text

The articles of incorporation must prescribe the
number of shares that the corporation is authorized to issue. If more
than one (1) class of shares is authorized by the articles of
incorporation, the articles of incorporation must prescribe the number
of shares in each class and a distinguishing designation for each class.
Before the issuance of shares of a class, the preferences, limitations,
and relative rights of the class must be described in the articles of
incorporation. All shares of a class must have preferences, limitations,
and relative rights identical with those of other shares of the same class
except to the extent otherwise permitted by section 4 of this chapter.

Legislative History

As added by P.L.14-1992, SEC.163.