§ 5-28-4-6 — Quorum; proxy vote prohibited

Indiana § 5-28-4-6

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 4: Corporation Board

Text

(a) The following constitutes a quorum for the
transaction of business by the board of the corporation:
(1) Seven (7) members, if:
(A) no additional members are appointed under section 2(c) of
this chapter; or
(B) one (1) additional member is appointed under section 2(c)
of this chapter.
(2) Eight (8) members, if either two (2) or three (3) additional
members are appointed under section 2(c) of this chapter.
(b) The following number of affirmative votes is necessary for
action to be taken by the board:
(1) The affirmative vote of at least seven (7) members, if:
(A) no additional members are appointed under section 2(c) of
this chapter; or
(B) one (1) additional member is appointed under section 2(c)
of this chapter.
(2) The affirmative vote of at least eight (8) members, if either
two (2) or three (3) additional members are appointed under
section 2(c) of this chapter.
(c) Members of the board may not vote by proxy.

Legislative History

As added by P.L.4-2005, SEC.34. Amended by P.L.237-2017, SEC.17.