Indiana Code 23-1.3-9-1. Limit on actions
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Sec. 1. A person may not, except in a benefit enforcement proceeding, bring an action or assert a claim against a benefit corporation or its directors or officers with respect to either of the following:
(A) general public benefit; or
(1) The failure to pursue or create:
Terms Used In Indiana Code 23-1.3-9-1
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(B) a specific public benefit identified in the benefit corporation’s articles of incorporation.
(2) A violation of an obligation, duty, or standard of conduct under this article.
As added by P.L.93-2015, SEC.3.