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2019 Indiana Code
Title 23. Business and Other Associations
Article 1.3. Benefit Corporations
Chapter 3. Benefit Corporation Status
23-1.3-3-6. Requirements for sale, lease, exchange, or other disposition of assets
Universal Citation: IN Code § 23-1.3-3-6 (2019)
IC 23-1.3-3-6 Requirements for sale, lease, exchange, or other disposition of assets
Sec. 6. Any sale, lease, exchange, or other disposition of all or substantially all of the assets of a benefit corporation is not effective unless one (1) or more of the following apply:
(1) The transaction is in the usual and regular course of business.
(2) The transaction is approved by at least a minimum status vote.
As added by P.L.93-2015, SEC.3.
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