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23-1.3-3-3. Plan of merger, consolidation, conversion, or share exchange; minimum status vote

IN Code § 23-1.3-3-3 (2019) (N/A)
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Sec. 3. (a) This section does not apply to a corporation that is a party to a merger if the shareholders of the corporation are not entitled to vote on the merger under IC 23-1-40.

(b) If:

(1) a domestic entity that is not a benefit corporation is a party to:

(A) a merger, consolidation, or conversion; or

(B) the exchanging entity in a share exchange; and

(2) the surviving entity in the merger, consolidation, conversion, or share exchange is to be a benefit corporation;

the plan of merger, consolidation, conversion, or share exchange must be adopted by the domestic entity by at least the minimum status vote.

As added by P.L.93-2015, SEC.3.

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23-1.3-3-2. Election of benefit corporation status by existing corporation; amending articles of incorporation; minimum status vote
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