Ind. Code § 23-1-42-4

"Issuing public corporation" defined

Known as the Indiana Business Corporation Law

The act spans §§ 23-1-17-1 to 23-1-55-3 (253 sections).

Applied in 2 court decisions — leading case Cts Corporation v. Dynamics Corporation of America Indiana (1987)

Most recently applied in 755 F. Supp. 2d 857 - In Re National Century Financial Enterprises, Inc., Investment Litigation (December 2010)

As added by P.L.149-1986, SEC.26

Sec. 4. (a) As used in this chapter, "issuing public corporation" means a corporation that has:

(1) one hundred (100) or more shareholders;

(2) its principal place of business or its principal office in Indiana, or that owns or controls assets within Indiana having a fair market value of more than one million dollars ($1,000,000); and

(3) either:

(A) more than ten percent (10%) of its shareholders resident in Indiana;

(B) more than ten percent (10%) of its shares owned of record or owned beneficially by Indiana residents; or

(b) The residence of a record shareholder is presumed to be the address appearing in the records 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.