Indiana Code 8-4-1-2. Shareholders; preemptive rights
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Terms Used In Indiana Code 8-4-1-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: includes a foreign corporation, partnership, or limited liability company authorized to do business in Indiana. See Indiana Code 8-4-1-0.3
- railroad: includes a rail carrier. See Indiana Code 8-4-1-0.6
Sec. 2. The shareholders of any railroad company, now organized or to be organized under the laws of this state, shall have no preemptive rights to subscribe to or purchase any additional issues of shares of the capital stock of the corporation of any class nor any shares of the corporation purchased or acquired by the corporation and not canceled but held as treasury stock except to the extent, if any, that such rights shall be fixed and stated in the articles of association.
Formerly: Acts 1852, 1RS, c.83, s.1a; Acts 1957, c.69, s.1. As amended by P.L.136-2018, SEC.85.