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§ 28-13-4-9 — Indiana Law | CourtGPT
  1. Home/
  2. Laws/
  3. Indiana/
  4. Title 28 - Financial Institutions/
  5. Article 13 - Corporate Governance/
  6. Chapter 4 - Dividends and Other Distributions28-13-4-1. Power of Board of Directors to Make Distributions/
  7. § 28-13-4-9
Indiana Legal Code

§ 28-13-4-9

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A corporation's indebtedness to a shareholder incurred by reason of a distribution made in accordance with this chapter is on a parity with the corporation's indebtedness to the corporation's general, unsecured creditors except to the extent subordinated by agreement.As added by P.L.14-1992, SEC.163.