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§ 23-1-28-6 — Indiana Law | CourtGPT
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  4. Title 23 - Business and Other Associations/
  5. Article 1 - Indiana Business Corporation Law/
  6. Chapter 28 - Distributions to Shareholders23-1-28-1. Distributions/
  7. § 23-1-28-6
Indiana Legal Code

§ 23-1-28-6

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A corporation's indebtedness to a shareholder incurred by reason of a distribution made in accordance with this chapter is at parity with the corporation's indebtedness to its general, unsecured creditors except to the extent subordinated by agreement.As added by P.L.149-1986, SEC.12.