Statutes, codes, and regulations
Indiana Code
Title 28 - FINANCIAL INSTITUTIONSArticle 12 - FORMATION OF BANKS, TRUST COMPANIES, AND BUILDING AND LOAN ASSOCIATIONS
Chapter 8 - BUSINESS OF CORPORATION
Section 28-12-8-2 - Liability of officers and directors for unauthorized business; dissenters; exemption

Ind. Code § 28-12-8-2

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Current through P.L. 171-2024
Section 28-12-8-2 - Liability of officers and directors for unauthorized business; dissenters; exemption

If a corporation transacts any business in violation of section 1 of this chapter, the officers and directors of the corporation, upon learning of the action, are jointly and severally liable for the debts or liabilities of the corporation so incurred or arising from the transactions. The liability imposed by this section does not apply to those officers and directors who dissented to the action and caused their written dissent to be filed in the principal office of the corporation.

IC 28-12-8-2

As added by P.L. 14-1992, SEC.162.