Ind. Code § 28-1-7-5
Submission of merger agreement; vote required
Indiana · Indiana Code Title 28 — Financial Institutions · Status: effective
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- Citation
- Ind. Code § 28-1-7-5, Submission of merger agreement; vote required, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1665577
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Full text
Sec. 5. The agreement of merger shall be submitted to a vote of the shareholders of each corporation, at the meeting directed by the resolution of the board of directors of each corporation, and the agreement shall be adopted by each corporation upon receiving the affirmative votes of the holders of a majority of the outstanding shares of the capital stock of the corporation. A mutual savings association or mutual savings bank shall adopt the agreement upon receiving the affirmative vote of fifty-one percent (51%) or more of the votes cast at the meeting called to consider such agreement of merger.