Indiana Code Title 8. Utilities and Transportation § 8-4-3-1

Sec. 1. The stockholders of any railroad company incorporated in this state before May 6, 1853, or that may be incorporated after May 6, 1853, may, by the vote of a majority in interest of the stockholders of such company, at any annual or other meeting thereof, determine that the directors of said company shall consist of any number not less than five (5) nor more than thirteen (13), who shall be chosen from any of the stockholders;  and thereafter such company may elect from any of its stockholders the number of directors it has fixed and determined upon, in the same manner and with the same effect as if this section was contained in the original statute incorporating such company.