§ 28-13-5-11 — Record date; fixing for shareholder meeting or action; adjournment by order of court

Indiana § 28-13-5-11

• Jurisdiction: Indiana
• Art. 13: CORPORATE GOVERNANCE
• Ch. 5: Meetings of Shareholders

Text

(a) The bylaws may fix or provide the
manner of fixing the record date for at least one (1) voting group to
determine the shareholders entitled to notice of a shareholders'
meeting, to demand a special meeting, to vote, or to take any other
action. If the bylaws do not fix or provide for fixing a record date, the
board of directors of the corporation may fix a future date as the record
date.
(b) A record date fixed under this section may not be more than
seventy (70) days before the meeting or action requiring a
determination of shareholders.
(c) A determination of shareholders entitled to notice of or to vote
at a shareholders' meeting is effective for any adjournment of the
meeting unless the board of directors fixes a new record date. The
board of directors must fix a new record date if the meeting is
adjourned to a date more than one hundred twenty (120) days after the
date fixed for the original meeting.
(d) If a court orders a meeting adjourned to a date more than one
hundred twenty (120) days after the date fixed for the original meeting,
the court may:
(1) provide that the original record date continues in effect; or
(2) fix a new record date.

Legislative History

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