Sec. 3. Corporate action taken in good faith in accordance with the emergency bylaws:
(1) binds the corporation; and
(2) may not be used to impose liability on a director, an officer, an employee, or an agent.
As added by P.L.14-1992, SEC.162.
Structure Indiana Code
Title 28. Financial Institutions
Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations
28-12-10-1. Adoption; Effectiveness; Management of Corporation During Emergency
28-12-10-2. Continuing Effectiveness of Regular Bylaws; Termination of Emergency
28-12-10-3. Effect of Good Faith Corporate Action
28-12-10-4. Extraordinary Event Preventing Quorum; Continuation of Emergency