Sec. 1. A board of directors may authorize and the corporation may make distributions to the corporation's shareholders subject to restriction by the articles of incorporation and the limitations in section 3 of this chapter. As added by P.L.14-1992, SEC.163.
Power of board of directors to make distributions
Ind. Code § 28-13-4-1, under Dividends and Other Distributions.
Ind. Code § 28-13-4-1