Ind. Code § 23-17-21-1

Prohibited distributions

Known as the Indiana Nonprofit Corporation Act

The act spans §§ 23-17-10-1 to 23-17-9-2 (200 sections).

As added by P.L.179-1991, SEC.1.

Sec. 1. Except as authorized under section 2 of this chapter, a corporation may not make distributions.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.