Sec. 6. (a) The following constitutes a quorum for the transaction of business by the board of the corporation:

(1) Seven (7) members, if:

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 5-28-4-6

  • 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.
  • Quorum: The number of legislators that must be present to do business.
(A) no additional members are appointed under section 2(c) of this chapter; or

(B) one (1) additional member is appointed under section 2(c) of this chapter.

(2) Eight (8) members, if either two (2) or three (3) additional members are appointed under section 2(c) of this chapter.

     (b) The following number of affirmative votes is necessary for action to be taken by the board:

(1) The affirmative vote of at least seven (7) members, if:

(A) no additional members are appointed under section 2(c) of this chapter; or

(B) one (1) additional member is appointed under section 2(c) of this chapter.

(2) The affirmative vote of at least eight (8) members, if either two (2) or three (3) additional members are appointed under section 2(c) of this chapter.

     (c) Members of the board may not vote by proxy.

As added by P.L.4-2005, SEC.34. Amended by P.L.237-2017, SEC.17.