FGS Enterprises, Inc. v. Shimala

DICKSON, Justice.

This is a direct appeal1 from trial court determinations that (1) the 1978 repeal of the Indiana General Corporation Act's reservation of powers clause, allowing the legislature to alter a corporate charter by amending state law, was not an inadvertent clerical error and (2) the retroactive restoration of the clause in 1986, as applied to the present parties, was contrary to the Contracts Clause of the United States Constitution.

Plaintiffs-Appellees Thomas and Lynn Shimala filed a three-count complaint against Defendant-Appellant FGS Enterprises, Inc. ("FGS"), alleging that…