Indiana Statutes
§ 28-13-4-9 — Parity of shareholder distribution with corporate indebtedness to unsecured creditors
A corporation's indebtedness to a shareholder
incurred by reason of a distribution made in accordance with this
chapter is on a parity with the corporation's indebtedness to the
corporation's general, unsecured creditors except to the extent
subordinated by agreement.
Free access — add to your briefcase to read the full text and ask questions with AI
Indiana § 28-13-4-9 (Parity of shareholder distribution with corporate indebtedness to unsecured creditors) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.14-1992, SEC.163.
Nearby Sections
15
§ 28-1-1-1
Short title§ 28-1-1-2
Application of article§ 28-1-1-3
Definitions§ 28-1-1-3.5
Affiliate relationship§ 28-1-1-3.7
"Emancipated youth"§ 28-1-1-3.9
"Foster youth"§ 28-1-1-4
"Fund"§ 28-1-1-5
References to savings associations§ 28-1-1-6
"Depository financial institution"§ 28-1-1-7
"Qualified youth"§ 28-1-11-11
Safe deposits and escrows