Indiana Code 34-17-3-5. Judgment or exclusion from office, franchise, or corporate rights; dissolution of corporation
(1) a person is found guilty of usurping, intruding into, or unlawfully exercising:
Terms Used In Indiana Code 34-17-3-5
- 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.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Plaintiff: The person who files the complaint in a civil lawsuit.
(B) an office in a corporation created by the authority of this state;
(2) a public officer thus charged is found guilty of having done or suffered an act which, by law, works a forfeiture of the office; or
(3) an association or number of persons is found guilty of having acted as a corporation, without having been legally incorporated.
(b) The court shall give judgment of ouster against the defendant and:
(1) exclude the defendant from the office, franchise, or corporate rights;
(2) in cases of corporations, dissolve the corporation; and
(3) adjudge costs in favor of the plaintiff.
[Pre-1998 Recodification Citation: 34-1-59-11.]
As added by P.L.1-1998, SEC.12.