Indiana § 28-13-4-9 - Parity of shareholder distribution with corporate indebtedness to unsecured creditors
Full text of Indiana Indiana Code § 28-13-4-9 — Parity of shareholder distribution with corporate indebtedness to unsecured creditors, with citation guidance and answers to common questions.
§ 28-13-4-9. Parity of shareholder distribution with corporate indebtedness to unsecured creditors
Sec. 9. 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.
IC 28-13-5Chapter 5. Meetings of Shareholders
28-13-5-1Annual meeting requisites 28-13-5-2Special meeting; corporations with more than 50 shareholders 28-13-5-3Special meeting; corporations of 50 or fewer shareholders 28-13-5-4Special meeting requisites and procedure 28-13-5-5Court ordered meeting; requisites and procedure 28-13-5-6Action taken without meeting; consent of voting shareholders 28-13-5-7Action with unanimous consent of voting shareholders; notice to nonvoting shareholders 28-13-5-8Notice of annual and special shareholders' meeting; prerequisites 28-13-5-9Adjournment of annual or special shareholders' meeting; notice 28-13-5-10Waiver by shareholder entitled to notice of meeting; effect of attendance at meeting 28-13-5-11Record date; fixing for shareholder meeting or action; adjournment by order of court
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-13-4-9
What does Indiana Code § 28-13-4-9 cover?
Section 28-13-4-9 ("Parity of shareholder distribution with corporate indebtedness to unsecured creditors") 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 § 28-13-4-9?
A common citation format is "Indiana Code § 28-13-4-9" (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 § 28-13-4-9 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.