Sec. 6. (a) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation.

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Terms Used In Indiana Code 23-1-21-6

  • 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 bylaws of a corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation.

As added by P.L.149-1986, SEC.5.

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