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Indiana Code Title 23. Business and Other Associations § 23-1-21-2

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 2. (a) The articles of incorporation must set forth:

(1) a corporate name for the corporation that satisfies the requirements of IC 23-1-23-1 (before its repeal) or IC 23-0.5-3;

(2) the number of shares the corporation is authorized to issue;

(3) the street address of the corporation's initial registered office in Indiana and the name of its initial registered agent at that office;  and

(4) the name and address of each incorporator.

(b) The articles of incorporation may set forth:

(1) the names and addresses of the individuals who are to serve as the initial directors;

(2) provisions not inconsistent with law regarding:

(A) the purpose or purposes for which the corporation is organized;

(B) managing the business and regulating the affairs of the corporation;

(C) defining, limiting, and regulating the powers of the corporation, its board of directors, and shareholders;

(D) a par value for authorized shares or classes of shares;  and

(E) the imposition of personal liability on shareholders for the debts of the corporation to a specified extent and upon specified conditions;  and

(3) any provision that under this article is required or permitted to be set forth in the bylaws.

(c) The articles of incorporation need not set forth any of the corporate powers enumerated in this article.

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-1-21-2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-1-21-2/

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