Sec. 6. (a) If a:

(1) provision under this article permits any of the terms of a plan to be dependent on facts objectively ascertainable outside the plan; and

(2) plan includes terms that are dependent on facts described in subdivision (1);

the manner in which the facts will operate upon the terms of the plan and the manner in which the facts will become operative must be set forth in the plan.

(b) The facts described under subsection (a) may include any of the following:

(1) Any of the following that are available in a nationally recognized news or information medium either in print or electronically:

(A) Statistical or market indices.

(B) Market prices of any security or group of securities.

(C) Interest rates.

(D) Currency exchange rates.

(E) Similar economic or financial data.

(2) A determination made or action taken by any person, including the entity or another party to a plan.

(3) The terms of, or actions taken under, an agreement to which the entity is a party, or any other agreement or document.

(c) The following provisions of a plan may not be made dependent on facts outside the plan:

(1) The name and address of any person required in a filed document.

(2) The registered office of any entity required in a filed document.

(3) The registered agent of any entity required in a filed document.

(4) The number of authorized interests and designation of each class or series of interests.

(5) The effective date of a filed document.

(6) Any required statement in a plan of the date on which the underlying transaction was approved or the manner in which that approval was given.

(d) If a provision of a plan is made dependent on a fact ascertainable outside the plan, and:

(1) the fact is not ascertainable by reference to a source described in subsection (b)(1) or a document that is a matter of public record; and

(2) the entity has not provided notice of the fact to the affected interest holders;

the entity shall file with the secretary of state articles of amendment setting forth the fact promptly after the time the fact referred to is first ascertainable or changes.

(e) Articles of amendment filed under subsection (d):

(1) are considered to be authorized by the plan to which the articles of amendment relate; and

(2) may be filed by the entity without further action by the governing person.

As added by P.L.118-2017, SEC.6.