Sec. 2. Unless the articles of incorporation provide otherwise, a corporation's board of directors may adopt at least one (1) amendment to the corporation's articles of incorporation without shareholder action to: (1) extend the duration of the corporation if the corporation was incorporated at a time when limited duration was required by law; (2) delete the names and addresses of the initial directors; (3) change each issued and unissued authorized share of an outstanding class into a greater number of whole shares and fractional shares if the corporation has only shares of that class outstanding; (4) reduce the number of authorized shares solely as the result of a cancellation of treasury shares; or (5) make any other change expressly permitted by this article to be made without shareholder action.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.