Indiana § 28-13-11-2 Right to rely on data and other information; financial statements and
data

Indiana Statutes

§ 28-13-11-2 — Right to rely on data and other information; financial statements and data

Indiana § 28-13-11-2

Art. 13CORPORATE GOVERNANCE

Ch. 11Standards of Conduct for Directors

This text of Indiana § 28-13-11-2 (Right to rely on data and other information; financial statements and data) 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 § 28-13-11-2 (2026).

Text

In discharging the director's duties, a director is entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by:

(1)at least one (1) officer or employee of the corporation whom the director reasonably believes to be reliable and competent in the matters presented;

(2)legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the person's professional or expert competence; or

(3)a committee of the board of directors of which the director is not a member if the director reasonably believes the committee merits confidence.

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In discharging the director's duties, a director
is entitled to rely on information, opinions, reports, or statements,
including financial statements and other financial data, if prepared or
presented by:
(1) at least one (1) officer or employee of the corporation whom
the director reasonably believes to be reliable and competent in
the matters presented;
(2) legal counsel, public accountants, or other persons as to
matters the director reasonably believes are within the person's
professional or expert competence; or
(3) a committee of the board of directors of which the director is
not a member if the director reasonably believes the committee
merits confidence.