"Interested shares" defined
Known as the Indiana Business Corporation Law
The act spans §§ 23-1-17-1 to 23-1-55-3 (253 sections).
Applied in 1 court decision — leading case 683 F. Supp. 458 - BNS INC. v. Koppers Co., Inc. (1988)
Most recently applied in 683 F. Supp. 458 - BNS INC. v. Koppers Co., Inc. (May 1988)
As added by P.L.149-1986, SEC.26.
Sec. 3. As used in this chapter, "interested shares" means the shares of an issuing public corporation in respect of which any of the following persons may exercise or direct the exercise of the voting power of the corporation in the election of directors:
(1) An acquiring person or member of a group with respect to a control share acquisition.
(2) Any officer of the issuing public corporation.
(3) Any employee of the issuing public corporation who is also a director of the corporation.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.