Sec. 4. (a) If the articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all or a specified number of directors by the holders of at least one (1) authorized class of shares.
(b) Each class of shares entitled to elect at least one (1) director is a separate voting group for purposes of the election of directors.
As added by P.L.14-1992, SEC.163.
Structure Indiana Code
Title 28. Financial Institutions
Article 13. Corporate Governance
Chapter 9. Board of Directors Generally
28-13-9-1. Necessity of Board; Powers
28-13-9-3. Size of Board; Articles and Bylaws; Annual Election of Directors
28-13-9-4. Election of Directors; Voting Groups; Classes of Shares
28-13-9-5. Terms of Office; Vacancies; Continuation Until Qualification of Successor
28-13-9-6. Staggering Terms; Groups of Directors; Expiration of Terms
28-13-9-7. Resignation; Notice; Effective Date