§ 23-17-21-1 Prohibited distributions
§ 23-17-21-2 Exceptions to prohibition
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Terms Used In Indiana Code > Title 23 > Article 17 > Chapter 21 - Distributions

  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.