§ 28-13-9-2 — Qualifications of directors; articles and bylaws prescribing; waiver of citizenship requirement

Indiana § 28-13-9-2

• Jurisdiction: Indiana
• Art. 13: CORPORATE GOVERNANCE
• Ch. 9: Board of Directors Generally

Text

(a) Except as provided in subsection (c), every
director must, during the director's whole term of service, be a citizen
of the United States. A director must be at least eighteen (18) years of
age. At least one-half (1/2) of the directors must reside in Indiana or
within a distance of not to exceed fifty (50) miles of any office of the
corporation of which the director is a director.
(b) The articles of incorporation or bylaws may prescribe other
qualifications for directors. A director need not be a shareholder of the
corporation unless the articles of incorporation or bylaws so prescribe.
(c) The director of the department may waive the United States
citizenship requirement set forth in subsection (a) for a particular
corporation if the waiver would affect only a minority of the total
number of directors of the corporation.

Legislative History

As added by P.L.14-1992, SEC.163. Amended by P.L.192-2003, SEC.7; P.L.213-2007, SEC.104; P.L.217-2007, SEC.102.