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2018 Indiana Code
TITLE 23. Business and other Associations
ARTICLE 0.6. UNIFORM BUSINESS ORGANIZATION TRANSACTIONS ACT
CHAPTER 1.5. Definitions
23-0.6-1.5-16. "Interest holder liability"
Universal Citation: IN Code § 23-0.6-1.5-16 (2018)
IC 23-0.6-1.5-16 "Interest holder liability"
Sec. 16. "Interest holder liability" means:
(1) personal liability for a liability of an entity that is imposed on a person:
(A) solely by reason of the status of the person as an interest holder; or
(B) by the organic rules of the entity which make one (1) or more specified interest holders liable in their capacity as interest holders for all or specified liabilities of the entity; or
(2) an obligation of an interest holder under the organic rules of an entity to contribute to the entity.
As added by P.L.118-2017, SEC.6.
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