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Indiana Code Title 23. Business and Other Associations § 23-1.3-3-3

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

Sec. 3. (a) This section does not apply to a corporation that is a party to a merger if the shareholders of the corporation are not entitled to vote on the merger under IC 23-1-40.

(b) If:

(1) a domestic entity that is not a benefit corporation is a party to:

(A) a merger, consolidation, or conversion;  or

(B) the exchanging entity in a share exchange;  and

(2) the surviving entity in the merger, consolidation, conversion, or share exchange is to be a benefit corporation;

the plan of merger, consolidation, conversion, or share exchange must be adopted by the domestic entity by at least the minimum status vote.

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-1.3-3-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-1-3-3-3/

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