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Senate Bill 0062

Senate Bill 0062

ARCHIVE (2012)

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DIGEST OF SB 62 (Updated January 25, 2012 1:58 pm - DI 113)

Securities and flexible purpose corporations. Provides that the legislative council shall assign the following topics to an interim study committee in 2012: (1) The advisability of creating an exemption from Indiana's securities laws for annual issues of securities whose aggregate value is less than approximately $1,000,000. (2) The advisability of providing for a form of business association, sometimes known as a flexible purpose corporation, which would allow the management of a profit seeking business to pursue an objective other than profit maximization without incurring liability for violation of the management's fiduciary duty.
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