Statutes, codes, and regulations
Indiana Code
Title 23 - BUSINESS AND OTHER ASSOCIATIONSArticle 1.3 - BENEFIT CORPORATIONS
Chapter 3 - BENEFIT CORPORATION STATUS
Section 23-1.3-3-6 - Requirements for sale, lease, exchange, or other disposition of assets

Ind. Code § 23-1.3-3-6

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Current through P.L. 171-2024
Section 23-1.3-3-6 - Requirements for sale, lease, exchange, or other disposition of assets

Any sale, lease, exchange, or other disposition of all or substantially all of the assets of a benefit corporation is not effective unless one (1) or more of the following apply:

(1) The transaction is in the usual and regular course of business.
(2) The transaction is approved by at least a minimum status vote.

IC 23-1.3-3-6

Added by P.L. 93-2015, SEC. 3, eff. 1/1/2016.