Sec. 3. (a) A purchaser from a corporation of the corporation's own shares is not liable to the corporation or the corporation's creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued or specified in the subscription agreement.
(b) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that the shareholder may become personally liable by reason of the shareholder's own acts or conduct.
As added by P.L.14-1992, SEC.163.
Structure Indiana Code
Title 28. Financial Institutions
Article 13. Corporate Governance
28-13-2-3. Shareholder Liability for Corporate Acts or Indebtedness
28-13-2-4. Pro Rata Shares; Share Dividend or Split; Record Date of Dividend
28-13-2-5. Purchase Rights, Options, or Warrants; Corporate Shares or Other Securities
28-13-2-6. Share Certificates; Contents; Requisites; Validity of Signature
28-13-2-7. Classes or Series of Shares Without Certificates; Furnishing Shareholder Information
28-13-2-9. Expenses Payable From Consideration Received for Shares