As Amended
SEC. 79-4-1.42. Number of shareholders.
(a) For purposes of Sections 79-4-1.01 et seq., the following identified as a shareholder in a corporation's current record of shareholders constitutes one (1) shareholder:
(1) Three (3) or fewer co-owners;
(2) A corporation, partnership, trust, estate or other entity;
(3) The trustees, guardians, custodians or other fiduciaries of a single trust, estate or account.
(b) For purposes of Sections 79-4-1.01 et seq., shareholdings registered in substantially similar names constitute one (1) shareholder if it is reasonable to believe that the names represent the same person.
SOURCES: Laws, 1987, ch. 486, Sec. 1.42, eff from and after January 1, 1988.