§ 23-17-13-1 Duties; reliance on statements of and information given by others; conditions for liability; director not trustee
§ 23-17-13-2.5 Contracts and transactions in which member, director, officer, or member of designated body has interest
§ 23-17-13-3 Loans to and guarantees of obligations of directors or officers
§ 23-17-13-4 Unlawful distributions; liability
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Terms Used In Indiana Code > Title 23 > Article 17 > Chapter 13 - Standards of Conduct for Directors

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Donor: The person who makes a gift.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Quorum: The number of legislators that must be present to do business.
  • Trustee: A person or institution holding and administering property in trust.