US Lawyer Database

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 […]

15-12-1-47. Application of Corporation Laws; Exceptions

Sec. 47. IC 23-1 and all powers and rights under IC 23-1 apply to associations organized under or governed by this chapter, except where IC 23-1 conflicts with or is inconsistent with this chapter. [Pre-2008 Recodification Citation: 15-7-1-28.] As added by P.L.2-2008, SEC.3.

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 […]

15-12-1-32. Issuance of Various Classes of Stock

Sec. 32. (a) If the board of directors of an association, under authority expressly vested in the board by the articles of incorporation, adopts a resolution that determines and states the relative rights, preferences, limitations, or restrictions of any class or classes of shares, or of any series of any class or classes, the association […]

15-12-1-17. Board of Directors; Management of Association

Sec. 17. (a) The business and affairs of an association shall be managed by a board of directors of at least five (5) directors. Subject to this limitation, unless specifically provided in the articles of incorporation, the number of directors shall be fixed by the bylaws, except as to the number constituting the initial board […]