Indiana § 28-13-2-3 Shareholder liability for corporate acts or indebtedness

Indiana Statutes

§ 28-13-2-3 — Shareholder liability for corporate acts or indebtedness

Indiana § 28-13-2-3

Art. 13CORPORATE GOVERNANCE

Ch. 2Issuance of Shares

This text of Indiana § 28-13-2-3 (Shareholder liability for corporate acts or indebtedness) 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 § 28-13-2-3 (2026).

Text

(a)A purchaser from a corporation of the corporation's own shares is not liable to the corporation or the corporation's creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued or specified in the subscription agreement.

(b)Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that the shareholder may become personally liable by reason of the shareholder's own acts or conduct.

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(a) A purchaser from a corporation of the
corporation's own shares is not liable to the corporation or the
corporation's creditors with respect to the shares except to pay the
consideration for which the shares were authorized to be issued or
specified in the subscription agreement.
(b) Unless otherwise provided in the articles of incorporation, a
shareholder of a corporation is not personally liable for the acts or
debts of the corporation except that the shareholder may become
personally liable by reason of the shareholder's own acts or conduct.