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Indiana Code Title 28. Financial Institutions § 28-13-8-3

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

Sec. 3. (a) A complaint in a proceeding brought in the right of a corporation must be verified and must allege with particularity:

(1) the demand made, if any, to obtain action by the board of directors;  and

(2) either that the demand was refused or ignored, or why the shareholder did not make the demand.

(b) Whether or not a demand for action was made, if the corporation commences an investigation of the charges made in the demand or complaint, including an investigation commenced under section 5 of this chapter, the court may stay any proceeding until the investigation is completed.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-13-8-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-13-8-3/

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