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