Sec. 1. A board of directors may authorize and the corporation may make distributions to its shareholders subject to restriction by the articles of incorporation and the limitation in section 3 of this chapter.
Ind. Code § 23-1-28-1
Distributions
Known as the Indiana Business Corporation Law
The act spans §§ 23-1-17-1 to 23-1-55-3 (253 sections).
As added by P.L.149-1986, SEC.12.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.