Right of corporation to purchase its own obligations; cancellation upon purchase
Ind. Code § 8-1-17.5-22
in effectSec. 22. A surviving corporation or successor corporation formed under this chapter may, out of any funds available for that purpose, purchase:
(1) any obligations issued by the surviving corporation or successor corporation; and
(2) any accrued interest on the obligations;
at a price determined by resolution of the board. Any obligation described in this section shall be cancelled upon its purchase by the surviving corporation or successor corporation.
As added by P.L.18-2010, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/8Fetched: 10/17/2026