Indiana Code
Ind. Code § 23-1-42-3 (2026)
"Interested shares" defined
✓ current as of May 2026
Sec. 3. As used in this chapter, "interested shares" means the shares of an issuing public corporation in respect of which any of the following persons may exercise or direct the exercise of the voting power of the corporation in the election of directors:
(1) An acquiring person or member of a group with respect to a control share acquisition.
(2) Any officer of the issuing public corporation.
(3) Any employee of the issuing public corporation who is also a director of the corporation.
As added by P.L.149-1986, SEC.26.
Notes of Decisions
Cited in 1
case, 1988–1988 · leading case: BNS INC. v. Koppers Co., Inc., 683 F. Supp. 458 (D. Del. 1988).
BNS INC. v. Koppers Co., Inc., 683 F. Supp. 458 (D. Del. 1988). “See Ind. Code Ann. § 23-1-42-3 , -7, -10(b). A separate part of Indiana’s takeover statute aims at post-transaction business combinations, resembling the fourth type of state response to MITE.”
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