Indiana Code
Chapter 12. Officers Generally
28-13-12-4. Contract Rights; Effect of Election, Appointment, or Removal

Sec. 4. (a) The election or appointment of an officer does not create contract rights.
(b) An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any, with the officer.
As added by P.L.14-1992, SEC.163.

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Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 13. Corporate Governance

Chapter 12. Officers Generally

28-13-12-1. Officers; Designation; Terms; Highest Acting Officer; Dual Officeholding

28-13-12-2. Powers and Duties

28-13-12-3. Resignation of Officer; Notice; Effective Date; Removal of Officer; Replacement of Chief Executive Officer

28-13-12-4. Contract Rights; Effect of Election, Appointment, or Removal

28-13-12-5. Adequate Fiduciary Coverage Required