Indiana § 28-13-11-7 - Additional considerations affecting board actions or recommendations; approval of majority of disinterested directors; conclusive presumption of validity
Full text of Indiana Indiana Code § 28-13-11-7 — Additional considerations affecting board actions or recommendations; approval of majority of disinterested directors; conclusive presumption of validity, with citation guidance and answers to common questions.
§ 28-13-11-7. Additional considerations affecting board actions or recommendations; approval of majority of disinterested directors; conclusive presumption of validity
Sec. 7. (a) In taking or declining to take any action, or in making or declining to make any recommendation to the shareholders of the corporation with respect to any matter, a board of directors of a corporation may, in the board's discretion, consider both the short term and long term best interests of the corporation.
(b) The board of directors shall take into account, and weigh as the directors consider appropriate, the effects of the action or recommendation on the corporation's shareholders and the other corporate constituent groups and interests listed or described in section 4 of this chapter, as well as any other factors considered pertinent by the directors under section 4 of this chapter.
(c) If a determination is made under this section with the approval of a majority of the disinterested directors of the board of the directors, that determination shall conclusively be presumed to be valid unless, after reasonable investigation, it can be demonstrated that the determination was not made in good faith.
As added by P.L.14-1992, SEC.163.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-13-11-7
What does Indiana Code § 28-13-11-7 cover?
Section 28-13-11-7 ("Additional considerations affecting board actions or recommendations; approval of majority of disinterested directors; conclusive presumption of validity") 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 § 28-13-11-7?
A common citation format is "Indiana Code § 28-13-11-7" (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 § 28-13-11-7 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.