Sec. 2. The board of directors may fix a record date, declaration date, and payment date with respect to any share dividend or distribution to a corporation's shareholders. If the board of directors does not fix the record date for determining shareholders entitled to a distribution (other than one involving a repurchase or reacquisition of shares), it is the date the board of directors authorizes the distribution.
As added by P.L.149-1986, SEC.12.
Structure Indiana Code
Title 23. Business and Other Associations
Article 1. Indiana Business Corporation Law
Chapter 28. Distributions to Shareholders
23-1-28-2. Record Date, Declaration Date, and Payment Date
23-1-28-3. Prohibited Distributions
23-1-28-4. Basis for Determination That Distribution Not Prohibited