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.
15-12-1-48. Secretary of State; Fees
Sec. 48. (a) The secretary of state shall charge and collect for the benefit of the state the following fees: (1) For filing with the secretary of state the articles of incorporation of an association organized or a corporation reorganized under this chapter, five dollars ($5). (2) For filing with the secretary of state any […]
15-12-1-49. Foreign Cooperative Associations; Application for Admission
Sec. 49. (a) Any nonprofit cooperative association organized under the agricultural cooperative law of any state of the United States other than Indiana and not admitted to do business in Indiana before March 12, 1935, must submit the following to the secretary of state at the secretary of state’s office before transacting any business in […]
15-12-1-50. Foreign Cooperative Associations; Certificate of Admission
Sec. 50. (a) If the secretary of state finds that an application for admission submitted under section 49 of this chapter conforms to law and that all patrons of the association who reside in Indiana will be entitled to receive substantially the same rights, benefits, and privileges from the association as though the association were […]
15-12-1-51. Admitted Foreign Cooperative Associations; Rights and Restrictions
Sec. 51. Any nonprofit cooperative association organized under the agricultural cooperative law of another state and admitted to do business in Indiana: (1) may transact business as set forth in the certificate of admission issued to the association by the secretary of state; (2) has the same rights, privileges, powers, and remedies at law or […]
15-12-1-36. Purchase of Property or Stock in Another Entity
Sec. 36. If an association that is organized under or governed by this chapter with capital stock purchases: (1) the stock; (2) any property; or (3) any interest in any property; of any person, firm, corporation, or association, the association may discharge the obligations incurred in the purchase, wholly or in part, by exchanging for […]
15-12-1-52. Governance of Certificates of Stock and Membership
Sec. 52. Certificates of stock or of membership issued, transferred, redeemed, or canceled by an association are governed by this chapter and the articles of incorporation and bylaws of the association. [Pre-2008 Recodification Citation: 15-7-1-33.] As added by P.L.2-2008, SEC.3.
15-12-1-21. Board of Directors; Payment; Restrictions
Sec. 21. (a) An association may provide a fair remuneration for: (1) the time actually spent by the association’s officers and directors in the association’s service; and (2) the service of the members of the association’s executive committee and other committees. (b) A director may not during the term of the director’s office be a […]
15-12-1-22. Executive Committee; Powers
Sec. 22. If the association’s bylaws provide for an executive committee, all of the functions and powers of the board of directors may be delegated to the committee, subject to the general direction and control of the board. [Pre-2008 Recodification Citation: 15-7-1-11(f).] As added by P.L.2-2008, SEC.3.
15-12-1-23. Board of Directors; Vacancies
Sec. 23. When a vacancy on the board of directors occurs, other than by expiration of term of office, the remaining members of the board may fill the vacancy by a majority vote of the remaining members, unless the bylaws provide for the election of directors by districts. If the bylaws provide for the election […]