Indiana Code 23-1-33-7. Resignation
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Sec. 7. (a) A director may resign at any time by delivering written notice:
(2) if the articles of incorporation or bylaws so provide, to another designated officer.
(1) to the board of directors, its chairman, or the secretary of the corporation; or
Terms Used In Indiana Code 23-1-33-7
- 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) A resignation is effective when the notice is delivered unless the notice specifies:
(1) a later effective date; or
(2) an effective date determined upon the happening of an event.
(c) A resignation that is conditioned upon failing to receive a specified vote for election as a director may provide that the resignation is irrevocable.
As added by P.L.149-1986, SEC.17. Amended by P.L.107-1987, SEC.10; P.L.133-2009, SEC.25.