Sec. 1. (a) This chapter applies to a society, an association, or a corporation: (1) organized: (A) for the improvement of agriculture; or (B) to conduct fairs or agricultural exhibits; or (2) owning or operating fairgrounds or other real estate for similar purposes. (b) This chapter does not apply to: (1) the state fair commission; […]
Sec. 2. A society, an association, or a corporation described in section 1 of this chapter, with authority of its board of directors, may: (1) borrow money; (2) mortgage its property; and (3) issue notes, bonds, and other obligations without restrictions other than those applying to corporations generally. [Pre-2008 Recodification Citation: 15-1-10-1 part.] As added […]
Sec. 3. A society, an association, or a corporation described in section 1 of this chapter may: (1) upon authority granted by the votes of those holding two-thirds (2/3) of the shares of stock: (A) sell; and (B) convey by deed all or any part of its grounds and property at any time; and (2) […]
Sec. 4. A society, an association, or a corporation described in section 1 of this chapter may: (1) dissolve; and (2) liquidate; the affairs of the society, association, or corporation in the same manner as corporations generally are authorized to do. [Pre-2008 Recodification Citation: 15-1-10-3.] As added by P.L.2-2008, SEC.5.
