Ind. Code § 28-1-8-2
Resolution proposing sale or other disposition; submission to shareholders
Indiana · Indiana Code Title 28 — Financial Institutions · Status: effective
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- Ind. Code § 28-1-8-2, Resolution proposing sale or other disposition; submission to shareholders, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1665631
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Full text
Sec. 2.
(a) A sale, lease, exchange, or other disposition described in section 1 of this chapter must first be proposed by the board of directors by the adoption of a resolution that:
(1) sets forth the terms and conditions of the sale, lease, exchange, or other disposition; and
(2) directs that the proposed disposition be submitted to a vote of the shareholders at the annual meeting or a special meeting.
(b) The meeting described in subsection (a)(2) shall:
(1) be called in the resolution required by subsection (a); and
(2) be in accordance with:
(A) IC 28-13-5-8, in the case of a corporation other than a credit union; and
(B) IC 28-7-1-14, in the case of a credit union.