15-12-1-39. Application of Other Laws
Sec. 39. A law in conflict with this chapter may not be construed to apply to an association provided for in this chapter. [Pre-2008 Recodification Citation: 15-7-1-19(a).] As added by P.L.2-2008, SEC.3.
15-12-1-40. Limitation on the Use of the Term “Cooperative”
Sec. 40. A person, or a firm, a limited liability company, a corporation, or an association organized in Indiana after February 23, 1925, may not use the word “cooperative” as part of its corporate or other business name or title for cooperative activities of producers of agricultural products unless it has complied with this chapter. […]
15-12-1-41. Membership of Association in Other Corporations or Associations
Sec. 41. An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any corporation or corporations, or association or associations, with or without capital stock, that are engaged in: (1) any activity in connection with the producing, marketing, selling, preserving, harvesting, drying, processing, manufacturing, canning, […]
15-12-1-42. Joint Activities With Other Associations
Sec. 42. (a) An association may, upon resolution adopted by the association’s board of directors: (1) enter into all necessary and proper contracts and agreements; and (2) make all necessary and proper stipulations, agreements, and contracts and arrangements with any other cooperative corporation, association, or associations formed in Indiana or in any other state; for […]
15-12-1-43. Vote by Existing Cooperatives for Governance Under Chapter
Sec. 43. (a) A corporation or an association organized under statutes in effect before February 23, 1925, may by a majority vote of its stockholders or members, elect to be governed by this chapter by: (1) limiting its stockholders or membership; and (2) adopting the other restrictions provided in this chapter. (b) The corporation or […]
15-12-1-44. Breach of Marketing Contract; Penalty; Injunction
Sec. 44. A person or corporation whose officers or employees knowingly induce or attempt to induce any member or stockholder of an association: (1) organized under this chapter; or (2) organized under any agricultural cooperative law of any other state of the United States and admitted to do business in Indiana; to breach the member’s […]
15-12-1-45. Warehouse or Elevator Operator; Breach of Marketing Contract; Penalty; Injunction
Sec. 45. (a) A person, firm, limited liability company, or corporation that: (1) operates a warehouse, an elevator, or other receiving place or deals in any agricultural products within Indiana; and (2) solicits, persuades, or permits any member of an association: (A) organized under this chapter; or (B) organized under any agricultural cooperative law of […]
15-12-1-30. Distribution of Dividends
Sec. 30. (a) The net earnings or savings of an association from the association’s marketing activities, purchasing activities, or marketing and purchasing activities that exceed the amounts needed to restore a deficit, to pay dividends on outstanding stock, or to establish or provide for additions to reserves or surplus, or both, must be distributed, unless […]
15-12-1-31. Redemption of Stock
Sec. 31. (a) An association organized with capital stock may, at any time, unless otherwise provided in the association’s articles of incorporation or bylaws, and except when the debts of the association exceed fifty percent (50%) of the assets: (1) redeem, purchase, or acquire the association’s outstanding common stock at the book value, as conclusively […]
15-12-1-16. Association; Meetings; Special Meetings
Sec. 16. (a) Each association shall provide in the association’s bylaws for one (1) or more regular meetings annually. (b) The board of directors of an association may call a special meeting at any time. (c) Ten percent (10%) of the members or stockholders of an association may file a petition stating the specific business […]