Sec. 7. (a) Unless the articles of incorporation or bylaws provide otherwise, the board of directors of a corporation may authorize the issue of some or all of the shares of any or all of its classes or series without certificates. The authorization does not affect shares already represented by certificates until they are surrendered to the corporation.
(b) Within a reasonable time after the issue or transfer of shares without certificates, the corporation shall send the shareholder a written statement of the information required on certificates by sections 6(b) and 6(c) of this chapter, and, if applicable, section 8 of this chapter.
As added by P.L.149-1986, SEC.10.
Structure Indiana Code
Title 23. Business and Other Associations
Article 1. Indiana Business Corporation Law
Chapter 26. Issuance of Shares
23-1-26-1. Subscription Agreements
23-1-26-3. Shareholder Liability
23-1-26-4. Share Dividends and Share Splits
23-1-26-5. Rights, Options, or Warrants
23-1-26-6. Certificates; Contents; Signatures
23-1-26-7. Issuance of Shares Without Certificates
23-1-26-8. Restrictions on Transfer or Registration of Transfer of Shares
23-1-26-9. Expenses Payable From Consideration Received for Shares