Ind. Code § 23-1.5-3-2

Current through P.L. 171-2024

Section 23-1.5-3-2 - Authority to purchase shares from disqualified persons

A professional corporation may purchase its own shares from a disqualified person without regard to the availability of capital or earned surplus for the purchase; however, no purchase of or payment for its own shares may be made at a time when the corporation is insolvent or when the purchase or payment would make it insolvent.

IC 23-1.5-3-2

As added by P.L. 239-1983, SEC.1.