IC 28-13-4 – Dividends and Other Distributions | Midpage

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Indiana Code

Chapter 4

IC 28-13-4

Dividends and Other Distributions

1Power of board of directors to make distributions 2Share dividend or distribution dates of record, declaration, and payment 3Dividends; approval of department required; retained net income; exemption from approval requirements 4Withdrawal of capital stock prohibited 5Impairment of capital prohibited; maximum dividend 6Repealed 7Protective order for increase of capital and surplus or reduction of deposits; time period for compliance; increase in capital by corporate fiduciary 8Repealed 9Parity of shareholder distribution with corporate indebtedness to unsecured creditors