Indiana § 8-1-17.5-20 Authority to issue obligations; sale of obligations

Indiana Statutes

§ 8-1-17.5-20 — Authority to issue obligations; sale of obligations

Indiana § 8-1-17.5-20

Art. 1UTILITIES GENERALLY

Ch. 17.5Merger or Consolidation of Rural Electric

This text of Indiana § 8-1-17.5-20 (Authority to issue obligations; sale of obligations) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 8-1-17.5-20 (2026).

Text

(a)A surviving corporation or successor corporation formed under this chapter has the power and is authorized, from time to time, to issue the surviving corporation's or successor corporation's obligations for any corporate purpose. The obligations may be authorized by one (1) or more resolutions of the board and may bear the date or dates, mature at the time or times, not exceeding forty

(40)years from their respective dates, bear interest at any rate, payable semiannually, be in the denominations, be in the form, either coupon or registered, carry the registration privileges, be executed in the manner, be payable in the medium of payment, at the place or places, and be subject to the terms of redemption, not exceeding the principal amount of the obligations plus accrued interest, as th

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

(a) A surviving corporation or successor
corporation formed under this chapter has the power and is authorized,
from time to time, to issue the surviving corporation's or successor
corporation's obligations for any corporate purpose. The obligations
may be authorized by one (1) or more resolutions of the board and may
bear the date or dates, mature at the time or times, not exceeding forty
(40) years from their respective dates, bear interest at any rate, payable
semiannually, be in the denominations, be in the form, either coupon
or registered, carry the registration privileges, be executed in the
manner, be payable in the medium of payment, at the place or places,
and be subject to the terms of redemption, not exceeding the principal
amount of the obligations plus accrued interest, as the board's
resolution or resolutions may provide.
(b) The obligations may be sold in the manner and upon the terms
as the board may determine at not less than the principal amount of the
obligations plus accrued interest.
(c) Notwithstanding any provision of law to the contrary, any
obligations and related interest coupons, if any, issued under this
chapter must possess all the qualities of negotiable instruments.