Section 23-1.3-3-3 - Plan of merger, consolidation, conversion, or share exchange; minimum status vote(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.
Added by P.L. 93-2015, SEC. 3, eff. 1/1/2016.