reglab/housing_qa huggingface dataset:
IN Code § 23-1.3-6-2 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 6. Benefit Director|23-1.3-6-2. Elect; Independent; Presumed Not Independent; Additional Qualification Requirements

Sec. 2. (a) A benefit director shall be elected, and may be removed, in the manner provided under IC 23-1-33.(b) Except as provided in section 6 or 7 of this chapter, a benefit director shall be an individual who is independent. An individual is conclusively presumed not independent under this subsection if any of the following apply:(1) The individual:(A) is; or(B) has been within the past three (3) years;an employee, other than a benefit officer, of the benefit corporation or a subsidiary of the benefit corporation.(2) An immediate family member of the individual:(A) is; or(B) has been within the past three (3) years;an executive officer, other than a benefit officer, of the benefit corporation or a subsidiary of the benefit corporation.(3) There is ownership of at least five percent (5%) of the outstanding shares of the benefit corporation, calculated as if all outstanding rights to acquire equity interests in the benefit corporation had been exercised, by:(A) the individual; or(B) an entity:(i) of which the individual is a director, an officer, or a manager; or(ii) in which the individual owns at least five percent (5%) of the outstanding equity interests, calculated as if all outstanding rights to acquire equity interests in the business entity had been exercised.(c) An individual serving as a benefit director or benefit officer does not in itself make the individual not independent.(d) A benefit director may serve as the benefit officer at the same time as serving as the benefit director.(e) A benefit corporation may prescribe in its articles of incorporation or bylaws additional qualification requirements for the benefit director if the additional qualification requirements are not inconsistent with this section.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-6-3 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 6. Benefit Director|23-1.3-6-3. Report

Sec. 3. A benefit director shall prepare, and the benefit corporation shall include in the annual benefit report to shareholders required under IC 23-1.3-10, a report of the benefit director on all the following:(1) Whether the benefit corporation acted in accordance with its general public benefit purpose and any specific public benefit purpose in all material respects during the period covered by the annual benefit report.(2) Whether the:(A) directors complied with IC 23-1.3-5-1; and(B) officers complied with IC 23-1.3-7-1.(3) If, in the opinion of the benefit director, the benefit corporation or its directors or officers failed to act or comply in the manner described in subdivision (1) or (2), a description of the ways in which the benefit corporation or its directors or officers failed to act or comply.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-6-4 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 6. Benefit Director|23-1.3-6-4. Status of Actions

Sec. 4. The act or inaction of an individual in the individual's capacity as a benefit director shall constitute for all purposes an act or inaction of that individual in the capacity of a director of the benefit corporation.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-6-5 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 6. Benefit Director|23-1.3-6-5. Immune From Personal Liability

Sec. 5. Regardless of whether the articles of incorporation or bylaws of a benefit corporation include a provision eliminating or limiting the personal liability of directors authorized by IC 23-1-37, a benefit director is not personally liable for an act or omission in the capacity of a benefit director unless the act or omission constitutes self-dealing (other than a conflict of interest transaction described in IC 23-1-35-2(a)), willful misconduct, recklessness, or a knowing violation of law.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-6-6 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 6. Benefit Director|23-1.3-6-6. Benefit Directors of Professional Corporations

Sec. 6. The benefit director of a professional corporation is not required to be independent.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-6-7 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 6. Benefit Director|23-1.3-6-7. Powers and Duties Exercised by Persons Other Than Directors

Sec. 7. (a) The articles of incorporation or bylaws of a benefit corporation must provide that the persons or shareholders who perform the duties of the board of directors include a person with the powers, duties, rights, and immunities of a benefit director if the articles of incorporation of the benefit corporation provide that the powers and duties conferred or imposed upon the board of directors shall be exercised or performed by a person other than the directors under IC 23-1-33-1(c).(b) A person that exercises one (1) or more of the powers, duties, or rights of a benefit director under this section:(1) does not need to be independent of the benefit corporation;(2) has the immunities of a benefit director; and(3) may share the powers, duties, and rights of a benefit director with one (1) or more persons.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-7-1 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 7. Standard of Conduct for Officers|23-1.3-7-1. Consideration of Interests and Factors

Sec. 1. Each officer of a benefit corporation shall consider the interests and factors of the persons listed in IC 23-1.3-5-1 in the manner provided under IC 23-1.3-5-1 if:(1) the officer has discretion to act with respect to a matter; and(2) it reasonably appears to the officer that the matter may have a material effect on the creation by the benefit corporation of general public benefit or a specific public benefit identified in the articles of incorporation of the benefit corporation.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-7-2 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 7. Standard of Conduct for Officers|23-1.3-7-2. Consideration of Interests and Factors Consistent With Duties

Sec. 2. The consideration of interests and factors in the manner described in section 1 of this chapter does not constitute a violation of any duties of an officer.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-7-3 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 7. Standard of Conduct for Officers|23-1.3-7-3. Immune From Personal Liability

Sec. 3. Except as provided in the bylaws of the benefit corporation, an officer is not personally liable for monetary damages for:(1) an action or inaction as an officer in the course of performing the duties of an officer under section 1 of this chapter if the officer performed the duties of the position in compliance with IC 23-1 and this chapter; or(2) failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-7-4 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 7. Standard of Conduct for Officers|23-1.3-7-4. No Duty to Beneficiary

Sec. 4. An officer does not have a duty to a person that is a beneficiary of the general public benefit purpose or a specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-8-1 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 8. Benefit Officer|23-1.3-8-1. Benefit Officer

Sec. 1. A benefit corporation may have an officer designated as the benefit officer.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-8-2 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 8. Benefit Officer|23-1.3-8-2. Powers and Duties

Sec. 2. A benefit officer shall have:(1) the powers and duties relating to the purpose of the benefit corporation to create general public benefit or a specific public benefit provided:(A) by the bylaws; or(B) absent controlling provisions in the bylaws, by resolutions or orders of the board of directors; and(2) the duty to prepare the benefit report required under IC 23-1.3-10.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-9-1 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 9. Right of Action|23-1.3-9-1. Limit on Actions

Sec. 1. A person may not, except in a benefit enforcement proceeding, bring an action or assert a claim against a benefit corporation or its directors or officers with respect to either of the following:(1) The failure to pursue or create:(A) general public benefit; or(B) a specific public benefit identified in the benefit corporation's articles of incorporation.(2) A violation of an obligation, duty, or standard of conduct under this article.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-9-2 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 9. Right of Action|23-1.3-9-2. Immune From Liability for Failure to Pursue or Create General or Specific Public Benefit

Sec. 2. A benefit corporation is not liable for monetary damages under this article for any failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-9-3 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 9. Right of Action|23-1.3-9-3. Benefit Enforcement Proceeding

Sec. 3. A benefit enforcement proceeding may be commenced or maintained only:(1) directly by the benefit corporation; or(2) derivatively in accordance with IC 23-1-32 by:(A) a person or group of persons that owned at least two percent (2%) of the total number of shares of a class or series outstanding at the time of the act or omission complained of;(B) a director;(C) a person or group of persons that owned at least five percent (5%) of the outstanding equity interests in an entity of which the benefit corporation is a subsidiary at the time of the act or omission complained of; or(D) other persons as specified in the benefit corporation's articles of incorporation or bylaws.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-10-1 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 10. Annual Benefit Report|23-1.3-10-1. Content

Sec. 1. A benefit corporation shall prepare an annual benefit report that includes all the following:(1) A narrative description of:(A) the ways in which the benefit corporation pursued general public benefit during the year and the extent to which general public benefit was created;(B) both the:(i) ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state is the purpose of the benefit corporation to create; and(ii) extent to which that specific public benefit was created;(C) any circumstances that have hindered the creation by the benefit corporation of general public benefit or a specific public benefit; and(D) the process and rationale for selecting or changing the third party standard used to prepare the benefit report.(2) An assessment of the overall social and environmental performance of the benefit corporation against a third party standard:(A) applied consistently with any application of that standard in prior benefit reports; or(B) accompanied by an explanation of the reasons for:(i) any inconsistent application; or(ii) the change to that standard from the standard used in the immediate prior report.(3) The name of the benefit director and the benefit officer, if any, and the address to which correspondence to each of them may be directed.(4) The compensation paid by the benefit corporation during the year to each director in the capacity of a director.(5) The report of the benefit director described in IC 23-1.3-6-3.(6) A statement regarding any connection between the organization that established the third party standard, or its directors, officers, or any holder of at least five percent (5%) of the governance interests in the organization, and the benefit corporation or its directors, officers, or any holder of at least five percent (5%) of the outstanding shares of the benefit corporation, including any financial or governance relationship that might materially affect the credibility of the use of the third party standard.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-10-2 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 10. Annual Benefit Report|23-1.3-10-2. Written Correspondence by Benefit Director

Sec. 2. If, during the year covered by a benefit report:(1) a benefit director:(A) resigned from or refused to stand for reelection to the position of benefit director; or(B) was removed from the position of benefit director; and(2) the benefit director furnished the benefit corporation with any written correspondence concerning the circumstances surrounding the resignation, refusal, or removal;the benefit report must include the correspondence described in subdivision (2) as an exhibit.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-10-3 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 10. Annual Benefit Report|23-1.3-10-3. Audit or Certification Not Required

Sec. 3. The following are not required to be audited or certified by a third party:(1) The benefit report.(2) The assessment of the performance of the benefit corporation in the benefit report described in section 1(2) of this chapter.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-10-4 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 10. Annual Benefit Report|23-1.3-10-4. Send to Shareholders

Sec. 4. A benefit corporation shall send its annual benefit report to each shareholder on the earlier of:(1) one hundred twenty (120) days following the end of the fiscal year of the benefit corporation; or(2) the same date that the benefit corporation delivers any other annual report to its shareholders.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-10-5 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 10. Annual Benefit Report|23-1.3-10-5. Post on Internet Web Site

Sec. 5. If a benefit corporation has an Internet web site, a benefit corporation shall post all of its benefit reports on the public part of its Internet web site. However, the compensation paid to directors and financial or proprietary information included in the benefit reports may be omitted from the benefit reports posted on the Internet web site.As added by P.L.93-2015, SEC.3.
IN Code § 23-1.3-10-6 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.3. Benefit Corporations|Chapter 10. Annual Benefit Report|23-1.3-10-6. Delivery to Secretary of State for Filing

Sec. 6. (a) The benefit corporation shall deliver, concurrently with the delivery of the benefit report to shareholders under section 4 of this chapter, a copy of the benefit report to the secretary of state for filing. However, the compensation paid to directors and financial or proprietary information included in the benefit report may be omitted from the benefit report as delivered to the secretary of state.(b) The fee established in IC 23-0.5-9-6 applies to an annual benefit report delivered for filing under this section.As added by P.L.93-2015, SEC.3. Amended by P.L.149-2016, SEC.69; P.L.118-2017, SEC.28.
IN Code § 23-1.5-1-1 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-1. Application of Definitions

Sec. 1. The definitions in this chapter apply throughout this article.As added by P.L.239-1983, SEC.1.
IN Code § 23-1.5-1-2 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-2. "Accounting Professional"

Sec. 2. "Accounting professional" means an individual who is licensed as:(1) a certified public accountant under IC 25-2.1-3;(2) a public accountant under IC 25-2.1-6; or(3) an accounting practitioner under IC 25-2.1-6.As added by P.L.239-1983, SEC.1. Amended by P.L.30-1993, SEC.2.
IN Code § 23-1.5-1-3 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-3. "Architectural or Engineering Professional"

Sec. 3. "Architectural or engineering professional" means an individual who is registered as:(1) an architect under IC 25-4-1;(2) a landscape architect under IC 25-4-2;(3) a professional engineer under IC 25-31-1; or(4) a professional surveyor under IC 25-21.5.As added by P.L.239-1983, SEC.1. Amended by P.L.23-1991, SEC.5; P.L.57-2013, SEC.22.
IN Code § 23-1.5-1-4 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-4. "Attorney"

Sec. 4. "Attorney" means an individual in good standing admitted to the practice of law in Indiana.As added by P.L.239-1983, SEC.1.
IN Code § 23-1.5-1-5 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-5. "Bureau"

Sec. 5. "Bureau" means the following:(1) In the case of:(A) an accounting professional;(B) an architectural professional;(C) an engineering professional;(D) a health care professional;(E) a real estate professional; or(F) a veterinarian;the Indiana professional licensing agency established by IC 25-1-5-3.(2) In the case of an attorney, the state board of law examiners.As added by P.L.239-1983, SEC.1. Amended by P.L.132-1984, SEC.1; P.L.169-1985, SEC.19; P.L.229-1995, SEC.1; P.L.1-2006, SEC.406.
IN Code § 23-1.5-1-5.4 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-5.4. "Charitable Remainder Annuity Trust"

Sec. 5.4. "Charitable remainder annuity trust" has the meaning set forth in Section 664(d)(1) of the Internal Revenue Code.As added by P.L.172-1996, SEC.1.
IN Code § 23-1.5-1-5.6 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-5.6. "Charitable Remainder Unitrust"

Sec. 5.6. "Charitable remainder unitrust" has the meaning set forth in Section 664(d)(2) or 664(d)(3) of the Internal Revenue Code.As added by P.L.172-1996, SEC.2.
IN Code § 23-1.5-1-6 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-6. "Disqualified Person"

Sec. 6. "Disqualified person" means an individual, corporation, limited liability company, partnership, fiduciary, trust, association, government agency, or other entity that for any reason is or becomes ineligible under this article to own shares issued by a professional corporation. The term includes a charitable remainder unitrust or charitable remainder annuity trust that is or becomes a disqualified person for failure to comply with section 13(3) of this chapter.As added by P.L.239-1983, SEC.1. Amended by P.L.8-1993, SEC.307; P.L.172-1996, SEC.3.
IN Code § 23-1.5-1-7 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-7. "Foreign Professional Corporation"

Sec. 7. "Foreign professional corporation" means a corporation for profit organized for the purpose of rendering professional services under the law of another state or country.As added by P.L.239-1983, SEC.1.
IN Code § 23-1.5-1-8 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-8. "Health Care Professional"

Sec. 8. "Health care professional" means an individual who is licensed, certified, or registered by a board (as defined in IC 25-1-9-1). However, the term does not include a veterinarian.As added by P.L.239-1983, SEC.1. Amended by P.L.150-1986, SEC.1; P.L.149-1987, SEC.15; P.L.14-2002, SEC.1.
IN Code § 23-1.5-1-9 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-9. "Licensing Authority"

Sec. 9. "Licensing authority" means the following:(1) In the case of an accounting professional, the Indiana state board of public accountancy.(2) In the case of an architectural professional, the board of registration for architects and landscape architects.(3) In the case of an engineering professional, the state board of registration for professional engineers.(4) In the case of an attorney, the Indiana supreme court.(5) In the case of a health care professional, the board (as defined in IC 25-1-9-1) that issues the individual's license, certification, or registration.(6) In the case of a veterinarian, the Indiana board of veterinary medical examiners.(7) In the case of a professional surveyor, the state board of registration for professional surveyors.(8) In the case of a real estate professional, the Indiana real estate commission.As added by P.L.239-1983, SEC.1. Amended by P.L.137-1985, SEC.4; P.L.169-1985, SEC.20; P.L.150-1986, SEC.2; P.L.149-1987, SEC.16; P.L.23-1991, SEC.6; P.L.33-1993, SEC.8; P.L.229-1995, SEC.2; P.L.24-1999, SEC.1; P.L.82-2000, SEC.1; P.L.14-2002, SEC.2; P.L.57-2013, SEC.23.
IN Code § 23-1.5-1-10 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-10. "Professional Corporation"

Sec. 10. "Professional corporation" means:(1) a corporation for profit organized under this article; or(2) a foreign corporation admitted to do business under this article.As added by P.L.239-1983, SEC.1.
IN Code § 23-1.5-1-11 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-11. "Professional Service"

Sec. 11. "Professional service" means any type of service that may be legally performed only by:(1) an accounting professional;(2) an architectural or engineering professional;(3) an attorney;(4) a health care professional;(5) a veterinarian; or(6) a real estate professional.As added by P.L.239-1983, SEC.1. Amended by P.L.229-1995, SEC.3.
IN Code § 23-1.5-1-12 (2021)
2021 Indiana Code|Title 23. Business and Other Associations|Article 1.5. Professional Corporations|Chapter 1. Definitions|23-1.5-1-12. "Qualified Person"

Sec. 12. "Qualified person" means an individual, general partnership, professional corporation, or trustee of a qualified trust that is eligible under this article to own shares issued by a professional corporation.As added by P.L.239-1983, SEC.1.