2020 Indiana Code
Title 23. Business and Other Associations
Article 1.3. Benefit Corporations
Chapter 6. Benefit Director
23-1.3-6-7. Powers and Duties Exercised by Persons Other Than Directors
Sec. 7. (a) The articles of incorporation or bylaws of a benefit corporation must provide that the persons or shareholders who perform the duties of the board of directors include a person with the powers, duties, rights, and immunities of a benefit director if the articles of incorporation of the benefit corporation provide that the powers and duties conferred or imposed upon the board of directors shall be exercised or performed by a person other than the directors under IC 23-1-33-1(c).
(b) A person that exercises one (1) or more of the powers, duties, or rights of a benefit director under this section:
(1) does not need to be independent of the benefit corporation;
(2) has the immunities of a benefit director; and
(3) may share the powers, duties, and rights of a benefit director with one (1) or more persons.
As added by P.L.93-2015, SEC.3.
