Indiana Code 23-5-2-5. Shares of corporation
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Terms Used In Indiana Code 23-5-2-5
- 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.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 5. Every such corporation may, at its discretion, divide its corporate property into shares and designate and prescribe the manner and under what conditions the said stock or shares thereof may be held, sold, transferred, conveyed, voted, retired, cancelled or forfeited.
Formerly: Acts 1875, c.5, s.5; Acts 1913, c.295, s.2.