Sec. 4. A corporation may not, during the time it continues in business as such, withdraw or authorize or permit to be withdrawn any portion of the capital stock in the form of dividends or otherwise.
As added by P.L.14-1992, SEC.163. Amended by P.L.262-1995, SEC.85; P.L.258-2003, SEC.25.
Structure Indiana Code
Title 28. Financial Institutions
Article 13. Corporate Governance
Chapter 4. Dividends and Other Distributions
28-13-4-1. Power of Board of Directors to Make Distributions
28-13-4-2. Share Dividend or Distribution Dates of Record, Declaration, and Payment
28-13-4-4. Withdrawal of Capital Stock Prohibited
28-13-4-5. Impairment of Capital Prohibited; Maximum Dividend
28-13-4-9. Parity of Shareholder Distribution With Corporate Indebtedness to Unsecured Creditors