Sec. 1. (a) At least thirty (30) individuals who are residents of at least two (2) states may organize themselves into a society to locate and conduct a fair in any county in Indiana. (b) Individuals who have organized a society under subsection (a) may organize themselves into a corporation by filing written articles of […]
Sec. 10. A corporation incorporated under this chapter shall: (1) annually publish a list of the awards made by the corporation under section 9 of this chapter and a summary of the treasurer’s account in a newspaper of the county; and (2) make a: (A) report of its proceedings during the year; (B) synopsis of […]
Sec. 11. (a) A corporation incorporated under this chapter may do the following: (1) Borrow not more than two hundred thousand dollars ($200,000) at a rate of interest not to exceed six percent (6%) per annum. (2) Mortgage its property to secure the repayment of the loan. (3) Issue bonds for not more than two […]
Sec. 12. (a) As used in this section, “county executive” means the board of commissioners of a county elected under IC 36-2-2-2. (b) The county executive may make an allowance out of the general fund of the county to a corporation incorporated under this chapter. (c) Before an allowance under subsection (b) is made, the […]
Sec. 2. (a) A society organized as a corporation under section 1 of this chapter shall file its articles of incorporation in the recorder’s office of the county of incorporation. (b) After the expenses of filing and recording have been paid, the county recorder shall record the articles of incorporation in the miscellaneous book of […]
Sec. 3. A corporation incorporated under this chapter: (1) has all the rights, powers, and privileges given to corporations by common law; (2) may sue and be sued; (3) may borrow and secure payment of money by: (A) notes and mortgage; and (B) bonds or deeds of trust upon the corporation’s personal and real property; […]
Sec. 4. A corporation incorporated under this chapter may: (1) divide its corporate property into shares; and (2) designate the manner that the shares may be held, sold, conveyed, assigned, or transferred. [Pre-2008 Recodification Citation: 15-1-2-4.] As added by P.L.2-2008, SEC.5.
Sec. 5. (a) A corporation incorporated under this chapter: (1) shall elect officers or agents necessary to carry into operation the purposes of its organization; (2) may prescribe and adopt rules for the direction of its officers and members; and (3) shall keep a fair record of its proceedings and accounts in proper books. (b) […]
Sec. 6. Real or personal property may be: (1) bequeathed; (2) devised; or (3) given; to a corporation incorporated under this chapter by will if the corporation name is stated or the purpose for the transfer leaves no reasonable doubt as to the corporation or purpose for which the transfer was intended. [Pre-2008 Recodification Citation: […]
Sec. 7. (a) The amount of real estate that a corporation incorporated under this chapter may purchase or own may not exceed: (1) one hundred sixty (160) acres; and (2) five hundred thousand dollars ($500,000) in value. (b) A corporation incorporated under this chapter may sell any land that it possesses or may possess. [Pre-2008 […]
Sec. 8. (a) Except as provided in subsection (b), the capital stock of a corporation incorporated under this chapter may not exceed five hundred thousand dollars ($500,000). (b) The capital stock of a corporation incorporated under this chapter may be increased by the vote of the stockholders at: (1) an annual meeting of the stockholders; […]
Sec. 9. (a) A corporation incorporated under this chapter shall annually offer and present cash awards for the improvement of soils, tillage, crops, manures, improvement of stock, articles of domestic industry, and other articles, productions, and improvements the corporation considers proper. The awards must be provided in different amounts and grades so that large and […]
