Indiana Shareholder Law

Inspection Rights

A shareholder in a closely held corporation has the same inspection rights as if they were part of an ordinary corporation.  See Ind. Code § 23-1-52-2.  Upon written demand, a shareholder may inspect and copy the records of the corporation so long as they have provided the corporation give days notice.  See Id. § 23-1-52-2(a). 

Shareholder Oppression

There is not statutory provision that enables an oppressed shareholder to petition the Court for judicial dissolution due to oppressive conduct by majority shareholders.  Nor is a direct claim of shareholder oppression recognized in Indiana.  However, Indiana Courts do recognize that shareholders who possess controlling interests have heightened duties and, there is some redress for minority shareholders who have been unfairly treated and frozen-out.  See Barth v. Barth, 569 N.E. 559, 561 (Ind. 1995).