Indiana § 28-13-14-4 Submission of proposal to shareholders; recommendation; approval
vote

Indiana Statutes

§ 28-13-14-4 — Submission of proposal to shareholders; recommendation; approval vote

Indiana·Art. 13 CORPORATE GOVERNANCE·Ch. 14 Amendment of Articles of Incorporation

For an amendment to be adopted the following requirements must be met:

(1)The board of directors must adopt a resolution directing that the proposed amendment be submitted to a vote of the shareholders and the resolution shall be submitted to and approved by the directors before or after the proposed amendment or amendments are submitted to the shareholders.

(2)The board of directors must recommend the amendment to the shareholders unless the board of directors determines that because of conflict of interest or other special circumstances the board of directors should make no recommendation and communicates the basis for the board's determination to the shareholders with the amendment.

(3)The shareholders entitled to vote on the amendment must approve the amendment as provided in sectio

Free access — add to your briefcase to read the full text and ask questions with AI

For an amendment to be adopted the
following requirements must be met:
(1) The board of directors must adopt a resolution directing that
the proposed amendment be submitted to a vote of the
shareholders and the resolution shall be submitted to and
approved by the directors before or after the proposed amendment
or amendments are submitted to the shareholders.
(2) The board of directors must recommend the amendment to the
shareholders unless the board of directors determines that because
of conflict of interest or other special circumstances the board of
directors should make no recommendation and communicates the
basis for the board's determination to the shareholders with the
amendment.
(3) The shareholders entitled to vote on the amendment must
approve the amendment as provided in section 7 of this chapter.

Indiana § 28-13-14-4 (Submission of proposal to shareholders; recommendation; approval vote) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.