Sec. 4. Any postsecondary educational institution which may be organized before, on, or after March 3, 1909, under or which may otherwise become subject to the provisions of this chapter shall be deemed to have a perpetual existence by operation of law. Any two (2) or more postsecondary educational institutions incorporated under the provisions of this chapter may be merged into one (1) corporation by the action of the boards of trustees of the respective corporations.
Formerly: Acts 1909, c.52, s.3a; Acts 1953, c.17, s.1. As amended by P.L.34-1987, SEC.345; P.L.2-2007, SEC.315.
Structure Indiana Code
Title 23. Business and Other Associations
Article 13. Educational Institutions
23-13-5-1. Election of Governing or Administrative Body by Board of Directors
23-13-5-2. Articles of Association; Contents
23-13-5-3. Procedure for Accepting Provisions of Chapter
23-13-5-4. Perpetual Existence; Merger
23-13-5-5. Assignment of Capital Stock of Institution to Board of Directors or Trustees
23-13-5-6. Purchasing Shares of Dissatisfied Stockholders; Determination of Value
23-13-5-7. Nonappearing Stockholders; Determination of Value of Shares