Sec. 10. (a) Subject to section 5 of this chapter, a director who votes for or assents to a distribution made in violation of this article or the articles of incorporation is personally liable to the corporation for the amount of the distribution that exceeds what could have been distributed without violating this article or the articles of incorporation. (b) A director held liable for an unlawful distribution under subsection (a) is entitled to contribution: (1) from every other director who voted for or assented to the distribution, subject to section 5 of this chapter; and (2) from each shareholder for the amount the shareholder accepted. IC 28-13-12 Chapter 12. Officers Generally 28-13-12-1 Officers; designation; terms; highest acting officer; dual officeholding 28-13-12-2 Powers and duties 28-13-12-3 Resignation of officer; notice; effective date; removal of officer; replacement of chief executive officer 28-13-12-4 Contract rights; effect of election, appointment, or removal 28-13-12-5 Adequate fiduciary coverage required
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