§ 28-13-14-1 — Authority to amend; restriction on shareholder vested rights

(a) A corporation may amend the
corporation's articles of incorporation at any time to add or change a
provision that is required or permitted to be in the articles of
incorporation or to delete a provision not required to be in the articles
of incorporation. Whether a provision is required or permitted to be in
the articles of incorporation is determined as of the effective date of the
amendment.
(b) A shareholder of the corporation does not have a vested property
right resulting from any provision in the articles of incorporation or
authorized to be in the bylaws by this article or the articles of
incorporation, including provisions relating to management, control,
capital structure, dividend entitlement, or purpose or duration of the
corporation.

Legislative History

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