Sec. 8. (a) Except as provided in subsection (b), the capital stock of a corporation incorporated under this chapter may not exceed five hundred thousand dollars ($500,000).

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Terms Used In Indiana Code 15-14-1-8

  • 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.
     (b) The capital stock of a corporation incorporated under this chapter may be increased by the vote of the stockholders at:

(1) an annual meeting of the stockholders; or

(2) a meeting called especially to increase the capital stock;

to an amount not exceeding one million dollars ($1,000,000).

[Pre-2008 Recodification Citation: 15-1-2-7.]

As added by P.L.2-2008, SEC.5.

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