Indiana Code 23-1-42-4. “Issuing public corporation” defined
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Sec. 4. (a) As used in this chapter, “issuing public corporation” means a corporation that has:
(2) its principal place of business or its principal office in Indiana, or that owns or controls assets within Indiana having a fair market value of more than one million dollars ($1,000,000); and
(1) one hundred (100) or more shareholders;
Terms Used In Indiana Code 23-1-42-4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
(3) either:
(A) more than ten percent (10%) of its shareholders resident in Indiana;
(B) more than ten percent (10%) of its shares owned of record or owned beneficially by Indiana residents; or
(C) one thousand (1,000) shareholders resident in Indiana.
(b) The residence of a record shareholder is presumed to be the address appearing in the records of the corporation.
As added by P.L.149-1986, SEC.26. Amended by P.L.133-2009, SEC.36.