Note: This version of section effective until 1-1-2018. See also following version of this section, effective 1-1-2018.

1. (b) Before August 1, 1987, the provisions of IC 23-1-18 through IC 23-1-54 do not apply to any domestic corporation, except in accordance with the following:

   1. (1) The corporation's board of directors must adopt a resolution electing to have IC 23-1-18 through IC 23-1-54 (except for IC 23-1-18-3 , IC 23-1-21 , and IC 23-1-53-3 ) apply to the corporation.
   2. (2) The resolution must specify a date (after March 31, 1986, and before August 1, 1987) on and after which those provisions will apply to the corporation.
   3. (3) The resolution must be filed in the office of the secretary of state before the date specified under subdivision (2).
2. (c) The provisions of IC 23-1-18 through IC 23-1-54 (except for IC 23-1-18-3 , IC 23-1-21 , and IC 23-1-53-3 ) apply to each domestic corporation that complies with all the conditions prescribed by subsection (b). In addition, such a corporation shall continue to comply with the requirements of IC 23-1-8 and IC 23-3-2 until August 1, 1987, but it is not subject to the provisions of IC 23-1-1 through IC 23-1-7 , IC 23-1-9 through IC 23-1-12 , IC 23-3-1 , and IC 23-3-9 .
3. (d) The provisions of IC 6-8.1-10-9 and IC 22-4-32-23 apply to the officers and directors of each domestic corporation that complies with all the conditions prescribed by subsection (b). In addition, such a corporation is not subject to the provisions of IC 6-8.1-10-8 and IC 22-4-32-22 (repealed August 1, 1987).
4. (e) After a corporation becomes subject to IC 23-1-18 through IC 23-1-54 , all references in the articles of incorporation of the corporation to the former Indiana General Corporation Act ( IC 23-1-1 through IC 23-1-12 ) (repealed August 1, 1987) shall be considered to refer to the Indiana Business Corporation Law ( IC 23-1-17 through IC 23-1-54 ), unless otherwise determined by resolution of the board of directors. Whenever the board of directors adopts such a resolution, it shall be filed in the office of the secretary of state.

Sec. 3. (a) After July 31, 1987, this article applies to all domestic corporations in existence on July 31, 1987, that were incorporated under IC 23-1-1 through IC 23-1-12 (repealed August 1, 1987) or any other prior law. It also applies to all corporations incorporated under IC 23-1-21 .

As added by P.L.149-1986, SEC.1. Amended by P.L.107-1987, SEC.3; P.L.3-1990, SEC.81; P.L.1-2010, SEC.91.