Indiana § 23-1-42-11 - Dissenters' rights; "fair value" defined
Full text of Indiana Indiana Code § 23-1-42-11 — Dissenters' rights; "fair value" defined, with citation guidance and answers to common questions.
§ 23-1-42-11. Dissenters' rights; "fair value" defined
Sec. 11. (a) Unless otherwise provided in a corporation's articles of incorporation or bylaws before a control share acquisition has occurred, in the event control shares acquired in a control share acquisition are accorded full voting rights and the acquiring person has acquired control shares with a majority or more of all voting power, all shareholders of the issuing public corporation have dissenters' rights as provided in this chapter.
(b) As soon as practicable after such events have occurred, the board of directors shall cause a notice to be sent to all shareholders of the corporation advising them of the facts and that they have dissenters' rights to receive the fair value of their shares pursuant to IC 23-1-44.
(c) As used in this section, "fair value" means a value not less than the highest price paid per share by the acquiring person in the control share acquisition.
As added by P.L.149-1986, SEC.26.
IC 23-1-43Chapter 43. Business Combinations
23-1-43-1"Affiliate" defined 23-1-43-2"Announcement date" defined 23-1-43-3"Associate" defined 23-1-43-4"Beneficial owner" defined 23-1-43-5"Business combination" defined 23-1-43-6"Common shares" defined 23-1-43-7"Consummation date" defined 23-1-43-8"Control" defined 23-1-43-9"Exchange Act" defined 23-1-43-10"Interested shareholder" defined 23-1-43-11"Market value" defined 23-1-43-12"Preferred shares" defined 23-1-43-13"Resident domestic corporation" defined 23-1-43-14"Share" defined 23-1-43-15"Share acquisition date" defined 23-1-43-16"Subsidiary" defined 23-1-43-17"Voting shares" defined 23-1-43-18Business combination with interested shareholder within five years of share acquisition date 23-1-43-19Business combination with interested shareholder; requirements 23-1-43-20Corporation having shares registered under Exchange Act; application of chapter 23-1-43-21Amendment of articles of incorporation making corporation subject to this chapter; application of chapter 23-1-43-22Election not to be covered by this chapter; application of chapter 23-1-43-23Inadvertent interested shareholder; application of chapter 23-1-43-24Interested shareholder on January 7, 1986; application of chapter
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 23-1-42-11
What does Indiana Code § 23-1-42-11 cover?
Section 23-1-42-11 ("Dissenters' rights; "fair value" defined") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 23-1-42-11?
A common citation format is "Indiana Code § 23-1-42-11" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 23-1-42-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.