§ 28-13-12-3 — Resignation of officer; notice; effective date; removal of officer; replacement of chief executive officer

Indiana § 28-13-12-3

• Jurisdiction: Indiana
• Art. 13: CORPORATE GOVERNANCE
• Ch. 12: Officers Generally

Text

(a) An officer may resign at any time by
delivering notice:
(1) to the board of directors, its chairman, or the secretary of the
corporation; or
(2) if the articles of incorporation or bylaws so provide, to another
designated officer.
(b) A resignation is effective when the notice is delivered unless the
notice specifies a later effective date. If a resignation is made effective
at a later date and the corporation accepts the future effective date, the
corporation's board of directors may fill the pending vacancy before the
effective date if the board of directors provides that the successor does
not take office until the effective date.
(c) A board of directors may remove any officer at any time with or
without cause.
(d) An officer who appoints another officer or assistant officer may
remove the appointed officer or assistant officer at any time with or
without cause.
(e) If a corporation replaces the chief executive officer of the
corporation, the corporation shall give the department written notice of
the replacement not later than thirty (30) days after the chief executive
officer is replaced.

Legislative History

As added by P.L.14-1992, SEC.163. Amended by P.L.35-2010, SEC.204.