Complaint requisites; stay pending corporate investigation

Ind. Code § 28-13-8-3
in effect
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Sec. 3. (a) A complaint in a proceeding brought in the right of a corporation must be verified and must allege with particularity: (1) the demand made, if any, to obtain action by the board of directors; and (2) either that the demand was refused or ignored, or why the shareholder did not make the demand. (b) Whether or not a demand for action was made, if the corporation commences an investigation of the charges made in the demand or complaint, including an investigation commenced under section 5 of this chapter, the court may stay any proceeding until the investigation is completed. As added by P.L.14-1992, SEC.163.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026

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