Indiana § 28-13-5-2 Special meeting; corporations with more than 50 shareholders

Indiana Statutes

§ 28-13-5-2 — Special meeting; corporations with more than 50 shareholders

Indiana·Art. 13 CORPORATE GOVERNANCE·Ch. 5 Meetings of Shareholders

(a)A corporation with more than fifty (50) shareholders must hold a special meeting of shareholders on call of the corporation's board of directors or the person or persons, including shareholders or officers, specifically authorized to do so by the articles of incorporation or bylaws.

(b)If the articles of incorporation require the holding of a special meeting on the demand of the corporation's shareholders, but do not specify the percentage of votes entitled to be cast on an issue necessary to demand a special meeting, the board of directors may establish the percentage in the corporation's bylaws. Absent adoption of a bylaw provision, the demand for a special meeting must be made by the holders of all of the votes entitled to be cast on an issue.

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(a) A corporation with more than fifty (50)
shareholders must hold a special meeting of shareholders on call of the
corporation's board of directors or the person or persons, including
shareholders or officers, specifically authorized to do so by the articles
of incorporation or bylaws.
(b) If the articles of incorporation require the holding of a special
meeting on the demand of the corporation's shareholders, but do not
specify the percentage of votes entitled to be cast on an issue necessary
to demand a special meeting, the board of directors may establish the
percentage in the corporation's bylaws. Absent adoption of a bylaw
provision, the demand for a special meeting must be made by the
holders of all of the votes entitled to be cast on an issue.

Indiana § 28-13-5-2 (Special meeting; corporations with more than 50 shareholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.