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 […]
15-12-1-33. Officers and Director; Charges; Removal
Sec. 33. (a) A member of an association may bring charges against an officer or a director by filing the charges in writing with the secretary of the association, together with a petition that is signed by five percent (5%) of the members and that requests the removal of the officer or director. (b) The […]
15-12-1-18. Board of Directors; Election; Terms
Sec. 18. Except as otherwise provided in this chapter, the directors: (1) shall be elected by the members at the annual meeting of the members; and (2) may, if provided in the bylaws, be elected for terms of office that expire at different times. A term of office may not continue for longer than three […]
15-12-1-34. Marketing Contracts
Sec. 34. (a) An association and its members may make and execute marketing contracts requiring the members to sell, for any period that is not more than ten (10) years: (1) all or any specified part of the members’ agricultural products; or (2) specified commodities; exclusively to or through the association or any facilities to […]
15-12-1-19. Board of Directors; Districts; Primary Elections
Sec. 19. The territory served by an association may be divided into districts and the directors elected according to districts. In this case, the bylaws must specify: (1) the number of directors to be elected in each district; and (2) the manner and method of reapportioning the directors and of redistricting the territory served by […]
15-12-1-35. Remedies for Breach of Contract
Sec. 35. (a) The bylaws or a marketing contract of an association may do the following: (1) Fix, as liquidated damages, specific amounts to be paid by the members or stockholders to the association upon the breach of any provision of the marketing contract regarding the sale, delivery, or withholding of products. (2) Provide that […]
15-12-1-20. Board of Directors; Appointment
Sec. 20. One (1) or more directors may be appointed by any public official or commission or by the other directors elected by the members or their delegates. Directors appointed as provided in this section: (1) shall represent primarily the interest of the general public in the association, but have the same powers and rights […]
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 […]