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2021 Indiana Code
Title 23. Business and Other Associations
Article 1. Indiana Business Corporation Law
Chapter 32. Derivative Proceedings
23-1-32-2. Complaint; Stay of Proceeding
Universal Citation: IN Code § 23-1-32-2 (2021)
Sec. 2. A complaint in a proceeding brought in the right of a corporation must be verified and allege with particularity the demand made, if any, to obtain action by the board of directors and either that the demand was refused or ignored or why the shareholder did not make the demand. Whether or not a demand for action was made, if the corporation commences an investigation of the charges made in the demand or complaint (including an investigation commenced under section 4 of this chapter), the court may stay any proceeding until the investigation is completed.
As added by P.L.149-1986, SEC.16.
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