Indiana § 28-13-8-3 Complaint requisites; stay pending corporate investigation

Indiana Statutes

§ 28-13-8-3 — Complaint requisites; stay pending corporate investigation

Indiana·Art. 13 CORPORATE GOVERNANCE·Ch. 8 Derivative Proceedings

(a)A complaint in a proceeding brought in the right of a corporation must be verified and must allege with particularity:

(1)the demand made, if any, to obtain action by the board of directors; and

(2)either that the demand was refused or ignored, or why the shareholder did not make the demand.

(b)Whether or not a demand for action was made, if the corporation commences an investigation of the charges made in the demand or complaint, including an investigation commenced under section 5 of this chapter, the court may stay any proceeding until the investigation is completed.

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

(a) A complaint in a proceeding brought in the
right of a corporation must be verified and must allege with
particularity:
(1) the demand made, if any, to obtain action by the board of
directors; and
(2) either that the demand was refused or ignored, or why the
shareholder did not make the demand.
(b) Whether or not a demand for action was made, if the corporation
commences an investigation of the charges made in the demand or
complaint, including an investigation commenced under section 5 of
this chapter, the court may stay any proceeding until the investigation
is completed.

Indiana § 28-13-8-3 (Complaint requisites; stay pending corporate investigation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.